Phio Pharmaceuticals Announces Exploratory Collaboration with a Luxury Skin Care Company for Phio's Patented INTASYL Compound

Rhea-AI Summary

Phio Pharmaceuticals Corp. (NASDAQ: PHIO) has announced an exploratory collaboration with a leading luxury skin care company to explore opportunities for its patented INTASYL compound in cosmeceutical applications. This collaboration aims to leverage Phio's gene silencing technology for aging skin disorders. CEO Robert Bitterman highlighted the significance of this step in demonstrating INTASYL's versatility across multiple applications.

Phio's INTASYL patent portfolio now includes 77 issued patents covering the silencing of over 25 gene targets in various fields, including dermatology, immuno-oncology, ophthalmology, and viral disorders. The technology is designed to enhance the effectiveness of immune cells in killing tumor cells, with applications for both intratumoral treatment and adoptive cell therapy.

Positive

• Exploratory collaboration with a leading luxury skin care company
• Potential expansion into cosmeceutical applications
• INTASYL patent portfolio includes 77 issued patents
• Technology covers silencing of over 25 gene targets in multiple fields

Negative

• None.

Biotechnology Analyst

Phio Pharmaceuticals' exploratory collaboration with a luxury skin care company marks an intriguing expansion of their INTASYL technology into the cosmeceutical market. While this move showcases the versatility of their platform, it's important to note that this is still in the early exploratory phase.

The company's 77 issued patents covering multiple therapeutic areas demonstrate a robust intellectual property portfolio. However, investors should be cautious as commercialization in the cosmeceutical space may require different expertise and regulatory pathways compared to Phio's core focus in immuno-oncology.

This collaboration could potentially open up new revenue streams if successful, but it's too early to quantify the impact. The lack of specific financial terms or timelines in the announcement suggests this is still a preliminary arrangement. Investors should monitor for future updates on concrete development plans or financial commitments from the luxury skin care partner.

Market Research Analyst

The global luxury skincare market is projected to reach $22.8 billion by 2027, growing at a CAGR of 5.6%. Phio's entry into this space through collaboration with a leading luxury skin care company could potentially tap into this lucrative market.

However, the competitive landscape is fierce, dominated by established players with strong brand recognition and extensive distribution networks. Phio's success will depend on:

• The efficacy of INTASYL in addressing aging skin concerns
• The luxury partner's ability to market and differentiate the technology
• Regulatory approval processes for cosmeceutical applications

While this move diversifies Phio's potential revenue streams, investors should note that success in the cosmeceutical market doesn't guarantee success in their core therapeutic areas. The company will need to balance resources between this new venture and their primary focus on immuno-oncology to maximize shareholder value.

Phio's INTASYL compound targets aging skin disorders

Marlborough, Massachusetts--(Newsfile Corp. - August 6, 2024) - Phio Pharmaceuticals Corp. (NASDAQ: PHIO), a clinical stage biotechnology company whose proprietary INTASYL™ siRNA gene silencing technology is designed to make immune cells more effective in killing tumor cells, today announced that they have entered into an exploratory collaboration regarding opportunities for the recently issued Phio patent for cosmeceutical skin care applications.

The collaborating company is one of the leading companies in luxury skin care products that are commercialized world-wide.

"This is a significant step in demonstrating the potential versatility of INTASYL across multiple applications," said Robert Bitterman, CEO of Phio Pharmaceuticals. "The INTASYL patent portfolio now consists of 77 issued patents for silencing over 25 gene targets in the fields of dermatology, immuno-oncology, ophthalmology, and viral disorders, both intratumorally and in adoptive cell therapy."

About Phio Pharmaceuticals Corp.

Phio Pharmaceuticals Corp. (NASDAQ: PHIO) is a clinical stage biotechnology company whose proprietary INTASYL™ siRNA gene silencing technology is designed to make immune cells more effective in killing tumor cells. INTASYL is the only self-delivering RNAi technology focused on immuno-oncology therapeutics without the need for specialized formulations or drug delivery systems. INTASYL drugs precisely down regulate specific proteins that inhibit the body's ability to overcome chronic diseases and other disorders.

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.

Contact:
Phio Pharmaceuticals Corp.
ir@phiopharma.com

PR Contact
Michael Adams
Bridge View Media
adams@bridgeviewmedia.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218930

FAQ

What is the purpose of Phio Pharmaceuticals' collaboration with the luxury skin care company?

The collaboration aims to explore opportunities for Phio's patented INTASYL compound in cosmeceutical skin care applications, particularly targeting aging skin disorders.

How many patents does Phio Pharmaceuticals (PHIO) currently hold for its INTASYL technology?

Phio Pharmaceuticals' INTASYL patent portfolio consists of 77 issued patents covering the silencing of over 25 gene targets in various fields.

What are the main application areas for Phio Pharmaceuticals' (PHIO) INTASYL technology?

The INTASYL technology has applications in dermatology, immuno-oncology, ophthalmology, and viral disorders, both for intratumoral treatment and adoptive cell therapy.

How does Phio Pharmaceuticals' (PHIO) INTASYL technology work?

INTASYL is a siRNA gene silencing technology designed to make immune cells more effective in killing tumor cells.