ATLANTA, June 15, 2021 (GLOBE NEWSWIRE) -- Phigenix, Inc. Pharmaceutical and Biomedical Research Company, a molecular oncologist-led, biopharmaceutical company focused on identifying, developing, and commercializing innovative and differentiated therapies to address significant unmet needs in diagnosing and precision treatment in oncology, today announced that the United States Patent and Trademark Office (USPTO) has issued U.S. Patent No. 11,033,628, which is directed to methods related to the use and administration of certain PAX2 inhibitors for treating drug-resistant breast cancer. Drug resistance of metastatic breast cancersto first-line chemotherapies, either single or a combination ofdrugs, occurs in 30-70% of cases.

U.S. Patent No. 11,033,628 also covers the use of a diagnostic test that assesses the expression status of PAX2 and Human Beta Defensin-1 (DEFB1) in addition to the current standard of care molecular markers to determine the best course of treatment of breast cancer. Additional issued claims pertain to methods of using anti-PAX2 compositions to treat particular resistant breast cancers. This newly issued patent is owned by Phigenix, Inc and is the latest U.S. patent issued in connection with Phigenix's PAX2 robust drug and diagnostics development program for cancer detection and treatment.

"We are extremely pleased with the addition of this new patent to our portfolio to extend our cutting-edge, next-generation medical innovations. This new issuance continues to expand the breadth and depth of our PAX2 intellectual property portfolio covering methods of use for certain PAX2 inhibitors and diagnostic tests for effective breast cancer disease treatment and management. The technology covered in this patent has the potential to revolutionize how physicians determine the most effective course of treatment for breast cancer patients. Ultimately, this new technology may make treatment more affordable and save thousands of lives, said Dr. Carlton D. Donald, Founder, President and Chief Executive Officer of Phigenix, Inc.

About Phigenix, Inc.

Phigenix, Inc. is a molecular oncologist-led biopharmaceutical company committed to identifying, developing, and commercializing innovative therapies to address significant unmet needs in diagnostic and therapeutic oncology and cancer drug resistance. Phigenix possesses and is developing an impressive patent portfolio that covers compounds that suppress the expression or activity of the PAX2 cancer-causing protein, and subsequently increases DEFB1 levels, which is a component of the immune system and cancer suppressor. The technology includes diagnostic tests for precision medicine to be utilized for the determination of the best course of treatment of cancer and proprietary inhibitors of the PAX2 oncogene and the subsequent PAX2-mediated cancer cell survival and drug resistance. This portfolio includes the recently issued U.S. patent discussed above, as well as issued U.S. and foreign patents directed to methods and drugs for treating cancer by blocking the expression of PAX2 and the subsequent re-expression of DEFB1 to fight cancer. Phigenix is also developing RNA-based cancer vaccines that increase the expression of the tumor suppressor Human Beta Defensin-1 (DEFB1), a critical component of the innate immune system and regulator of the anti-tumor response. The targeted anti-PAX2 and DEFB1 therapies represent a novel and first-in-class approach to treating cancer.

Phigenix is focused on advancing cancer disease management by utilizing molecular signature-based diagnostic tests and precision medicine-driven novel therapeutics. Phigenix is based in Atlanta, GA. More information can be found by visiting the Phigenix website at http://www.phigenix.com.

Cautionary Note Regarding Forward-Looking Statements

Certain information set forth in this presentation contains "forward-looking information", including "future-oriented financial information" and "financial outlook", under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company's business, projects, and joint ventures; (iv) execution of the Company's vision and growth strategy, including concerning future M&A activity and global growth; (v) sources and availability of third-party financing for the Company's projects; (vi) completion of the Company's projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Company's current customer, supplier and other material agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management's beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment.

These statements are not a guarantee of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements.

Phigenix Contact Charles A. West, Ph.D.Head of Business DevelopmentCorporate Strategy/Investor Relations404-946-1811cawest@phigenix.com

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Phigenix, Inc. Announces Issuance of US Patent Covering Precision Medicine Diagnostic and Novel Therapeutic for Treating - GlobeNewswire