Bioxytran to Internally Develop Novel Carbohydrate Galectin Inhibitor to Eliminate COVID-19 in Patients

Galectin research required to initiate clinical trials, subject to funding, will be based on internal development as opposed to a license as previously reported.

BOSTON, MASSACHUSETTS, March 30, 2020 (GLOBE NEWSWIRE) -- BIOXYTRAN, INC. BIXT, announced today that it intends to internally develop a novel carbohydrate Galactin inhibitor as opposed to licensing intellectual from Dr. David Platt as previously reported on March 24, 2020. The Company's management believes that this approach will enable Bioxytran to develop a stronger intellectual property portfolio.

Dr. David Platt, Chief Executive Officer, remarked, "After reviewing the research and progress since the filing of my patent in 2009, I believe that we can be more responsive to the immediate needs posed by COVID-19 by developing a new patent portfolio rather than depending on my prior efforts. As a result, we terminated our prior licensing arrangement. Over the past decade there has been a strong body of evidence that indicates that Galectin-1 is implicated in viral pathogenesis, including influenza and SARS providing a strong foundation to the hypothesis that Galectin-1 may be implicated in COVID-19.  Our new strategy should enable us to build on the new body of research to develop a stronger patent portfolio."

While Bioxytran will continue its plan to develop a pipeline of anti-necrosis drugs designed to treat hypoxia and our core strategy remains intact, our plan is to obtain additional funding for a proprietary Galactin-1 viral inhibitor developed internally and file for expedited trials under new FDA guidelines.

About Bioxytran, Inc.

Bioxytran Inc. is a developmental stage biotechnology company. The Company is working towards a first-in-class oxygen treatment platform for victims of brain stroke trauma. The first product to proceed to testing is BXT-25, which will be evaluated as a resuscitative agent to treat strokes, especially during the all-critical first hour following a stroke. The product will also be evaluated for its efficacy in treating other brain trauma issues. BXT-25 is based on a new molecule designed to reverse hypoxia in the brain.  Hypoxic brain injuries such as ischemic strokes, could be treated with BXT-25 via an intravenous injection that quickly allows the drug molecule to travel to the lungs and bind with the oxygen molecules. From the lungs the molecule mimics a red blood cell traveling to the brain. Since the molecule is designed to be 5,000 times smaller than red blood cells it is expected to penetrate the clot and deliver the oxygen to the critical areas in the brain blocked by the clot. The MDX Viewer will be used in evaluation of the safety and efficacy of the BXT-25.

To learn more, visit our website: http://www.Bioxytraninc.com

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Forward-Looking Statements

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