Phio Pharmaceuticals Presenting Data on Its INSTAYL Compound PH-894 at ASGCT’s 2024 Advancing Gene and Cell Therapies for Cancer Conference

PH-894: Potent and Specific Silencing of BRD4 in NK Cells

Marlborough, Massachusetts–(Newsfile Corp. – October 16, 2024) – Phio Pharmaceuticals Corp. (NASDAQ: PHIO) is a clinical-stage biotechnology company creating new pathways towards a cancer-free future by using its INTASYL^® siRNA gene silencing technology designed to make the body’s immune cells more effective in killing cancer cells. Phio announced today that it is presenting data about its INTASYL compound PH-894 at the American Society of Gene & Cell Therapy’s (ASGCT’s) 2024 Advancing Gene and Cell Therapies for Cancer conference. The conference will take place virtually and at the Wyndham Hotel, Philadelphia Historic District, Philadelphia, PA.

Phio’s presentation will focus on how its INTASYL compound PH-894 provides a promising approach for improving the functionality and cytotoxicity of Natural Killer (NK) cells, the body’s first line of defense against cancer:

• PH-894 treatment leads to potent and specific silencing of BRD4 in NK cells, without affecting cell viability.
• Incorporation of PH-894 during ex vivo NK cell expansion protocols boosts NK cell numbers by enhancing their proliferation, potentially yielding more effective therapeutic doses.
• PH-894 treatment decreases the expression of CD94, an inhibitory receptor, allowing for improved cytotoxic potential by limiting NK cell inhibition.
• PH-894 may improve NK cell efficacy in adoptive cell therapies by boosting their immune capabilities.

The INTASYL compound PH-894 serves as a foundation for future NK cell-based immunotherapies and supports further exploration of BRD4 as a target in NK cell-based immunotherapies.

Presentation Details are as follows:

About Phio Pharmaceuticals Corp.

Phio Pharmaceuticals Corp. (NASDAQ: PHIO) is a clinical-stage biotechnology company creating new pathways towards a cancer-free future by using its INTASYL^® siRNA gene silencing technology designed to make the body’s immune cells more effective in killing cancer cells. In non-systemic applications, INTASYL can target and silence virtually any gene with high specificity across a wide range of tissue types. INTASYL is primarily designed to enhance the ability of immune cells to kill tumor cells and can play a key role in improving adoptive cell therapy. Notably, INTASYL is the only self-delivering RNAi technology, in that it does not require specialized formulations or drug delivery systems.

For additional information, visit the Company’s website, www.phiopharma.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “intends,” “believes,” “anticipates,” “indicates,” “plans,” “expects,” “suggests,” “may,” “would,” “should,” “potential,” “designed to,” “will,” “ongoing,” “estimate,” “forecast,” “target,” “predict,” “could” and similar references, although not all forward-looking statements contain these words. These statements are based only on our current beliefs, expectations and assumptions and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results may differ materially from those indicated in the forward-looking statements as a result of a number of important factors, including, but not limited to, the impact to our business and operations by inflationary pressures, rising interest rates, recession fears, the development of our product candidates, results from our preclinical and clinical activities, our ability to execute on business strategies, our ability to develop our product candidates with collaboration partners, and the success of any such collaborations, the timeline and duration for advancing our product candidates into clinical development, the timing or likelihood of regulatory filings and approvals, the success of our efforts to commercialize our product candidates if approved, our ability to manufacture and supply our product candidates for clinical activities, and for commercial use if approved, the scope of protection we are able to establish and maintain for intellectual property rights covering our technology platform, our ability to obtain future financing, market and other conditions and those identified in our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q under the caption “Risk Factors” and in other filings the Company periodically makes with the SEC. Readers are urged to review these risk factors and to not act in reliance on any forward-looking statements, as actual results may differ from those contemplated by our forward-looking statements. Phio does not undertake to update forward-looking statements to reflect a change in its views, events or circumstances that occur after the date of this release, except as required by law.

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