Qualigen Therapeutics, Inc. Appoints Tariq Arshad, MD, MBA as Chief Medical Officer

Rhea-AI Summary

Qualigen Therapeutics has appointed Tariq Arshad, MD, MBA as the new Senior Vice President, Chief Medical Officer, aiming to enhance their oncology and viral disease pipeline. Dr. Arshad brings over 20 years of experience from top biopharmaceutical companies, including Becton Dickinson and Pfizer. His expertise in immuno-oncology is expected to significantly advance the company's therapeutic programs. This appointment comes at a crucial growth phase for Qualigen, as it develops novel treatments for cancer and viral diseases, including QN-247 and QN-165.

Positive

• Appointment of Tariq Arshad is expected to strengthen leadership and clinical expertise.
• Dr. Arshad's extensive background may enhance pipeline development for oncology and viral disease therapeutics.

Negative

• Concerns may arise regarding continuity and experience gaps in upper management.

New Position Created to Deepen Clinical Expertise and Advance Pipeline Therapeutic Programs

CARLSBAD, Calif., May 19, 2021 (GLOBE NEWSWIRE) -- Qualigen Therapeutics, Inc. (Nasdaq: QLGN), a biotechnology company focused on developing novel therapeutics for the treatment of cancer and viral diseases, today announced the appointment of Tariq Arshad, MD, MBA to the newly-created position of Senior Vice President, Chief Medical Officer. Dr. Arshad brings more than 20 years of biotech and pharmaceutical experience to Qualigen Therapeutics during a dynamic time of growth and implementation of long-range strategy.

“We are delighted to welcome Tariq to Qualigen as our Chief Medical Officer during this exciting time where he will serve in a mission-critical role as we advance our oncology and viral disease pipeline programs,” stated Michael Poirier, Chairman and Chief Executive Officer at Qualigen Therapeutics.

Dr. Arshad is an oncologist with expertise in both early and late stage clinical development at several leading and emergent biopharmaceutical companies, including leadership roles at Becton Dickinson, Sanofi Genzyme, Humanigen, XOMA, Merck, Genentech, and Pfizer. Most recently, Dr. Arshad was Global Head of Medical Affairs and Clinical Research for Becton Dickinson BioSciences in San Jose, California where he led a team of MDs and PhDs driving scientific strategy for a cutting-edge immuno-oncology focused portfolio.

Dr. Arshad commented, “I am thrilled to join a dedicated team with a calling to develop therapeutics for patients with few treatment options. I plan to apply my expertise in immuno-oncology and clinical development to help solve the medical problems that devastate patients who suffer from these conditions.” 

About Qualigen Therapeutics, Inc.

Qualigen Therapeutics, Inc. is a biotechnology company focused on developing novel therapeutics for the treatment of cancer and infectious diseases, as well as maintaining and expanding its core FDA-approved FastPack^® System, which has been used successfully in diagnostics for 20 years. Our cancer therapeutics pipeline includes QN-247 (formerly referred to as ALAN or AS1411-GNP), RAS-F and STARS^™. QN-247 is a DNA coated gold nanoparticle cancer drug candidate that has the potential to target various types of cancer with minimal side effects; the nanoparticle coating technology is similar to the core nanoparticle coating technology used in our blood-testing diagnostic products. The foundational aptamer of QN-247, QN-165 (formerly referred to as AS1411), is also a drug candidate for treating COVID-19 and other viral-based infectious diseases; we currently plan that our first clinical trial would be a trial of QN-165 against COVID-19. RAS-F is a family of RAS oncogene protein-protein interaction inhibitor small molecules for preventing mutated RAS genes' proteins from binding to their effector proteins; preventing this binding could stop tumor growth, especially in pancreatic, colorectal and lung cancers. STARS is a DNA/RNA-based treatment device candidate for removal from circulating blood of precisely targeted tumor-produced and viral compounds.

Because Qualigen's therapeutic candidates are still in the development stage, Qualigen's only products that are currently commercially available are FastPack System diagnostic instruments and test kits, used in physician offices, clinics and small hospitals around the world. The FastPack System menu includes rapid point-of-care diagnostic tests for cancer, men's health, hormone function, and vitamin D status. Qualigen's facility in Carlsbad, California is FDA and ISO Certified and its FastPack product line is sold worldwide by its commercial partner Sekisui Diagnostics, LLC.

For more information on Qualigen Therapeutics, Inc., please visit https://www.qualigeninc.com.

Forward-Looking Statements

This news release contains forward-looking statements by the Company that involve risks and uncertainties and reflect the Company's judgment as of the date of this release. These statements include those related to the Company's prospects and strategy for the development of therapeutic drug candidates. Actual events or results may differ from the Company's expectations. For example, there can be no assurance that clinical trials will be approved to begin by or will proceed as contemplated by any projected timeline; that the Company will successfully develop any drugs or therapeutic devices; that preclinical or clinical development of the Company's drugs or therapeutic devices will be successful; that future clinical trial data will be favorable or that such trials will confirm any improvements over other products or lack negative impacts; that any drugs or therapeutic devices will receive required regulatory approvals or that they will be commercially successful; that patents will issue on the Company's owned and in-licensed patent applications; that such patents, if any, and the Company's current owned and in-licensed patents would prevent competition; that the Company will be able to procure or earn sufficient working capital to complete the development, testing and launch of the Company's prospective therapeutic products; or that the Company will be able to maintain or expand market demand and/or market share for the Company's diagnostic products. The Company's stock price could be harmed if any of the events or trends contemplated by the forward-looking statements fails to occur or is delayed or if any actual future event otherwise differs from expectations. Additional information concerning these and other risk factors affecting the Company's business (including events beyond the Company's control, such as epidemics and resulting changes) can be found in the Company's prior filings with the Securities and Exchange Commission, available at www.sec.gov. The Company disclaims any intent or obligation to update these forward-looking statements beyond the date of this news release, except as required by law. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Investor Relations:

For further information: David Kugelman
Atlanta Capital Partners, LLC
(404) 856-9157 Office
(866) 692-6847 Toll Free - U.S. & Canada
dk@atlcp.com

Tony Schor
Investor Awareness, Inc.
(847) 971-0922
tony@investorawareness.com

Attachment

• Dr. Tariq Arshad

FAQ

Who is Tariq Arshad and what is his new role at Qualigen?

Tariq Arshad has been appointed as the Senior Vice President, Chief Medical Officer at Qualigen, bringing over 20 years of biotech experience.

How can Dr. Arshad's appointment impact Qualigen's pipeline?

Dr. Arshad's expertise in immuno-oncology is expected to advance Qualigen's therapeutic programs, particularly in oncology and viral diseases.

What are Qualigen's main therapeutic candidates?

Qualigen's key therapeutic candidates include QN-247 for cancer and QN-165 for COVID-19, alongside RAS-F and STARS.

When was Tariq Arshad appointed to Qualigen?

Tariq Arshad was appointed to his new role on May 19, 2021.