Lixte Biotechnology Announces Initiation of a Materials Cooperative Research and Development Agreement With The National Institute of Neurological Disorders and Stroke

EAST SETAUKET, N.Y., Dec. 10, 2013 /PRNewswire/ -- Lixte Biotechnology Holdings, Inc. LIXT, a clinical-stage pharmaceutical company, has signed a Materials Cooperative Research and Development Agreement (M-CRADA) with the National Institute of Neurological Disorders and Stroke, National Institutes of Health (NINDS, NIH).  Dr. John Kovach, the founder of Lixte said "Under this agreement, the Surgical Neurology Branch of NINDS, NIH, will conduct research characterizing a variety of compounds proprietary to Lixte.  This research will examine the compounds' potential for anti-cancer activity, reducing neurological deficit due to ischemia and brain injury, and stabilizing catalytic function of misfolded proteins for inborn brain diseases." 

"Under an M-CRADA, a party provides research material, in this case proprietary compounds from Lixte's pipeline, for study by scientists at NIH.  The exchange of materials is for research only and implies no endorsement of the materials on the part of either party." Dr. Kovach continued, "Lixte's primary emphasis is on developing drugs for the treatment of cancer but its compounds also have potential for treating a variety of other diseases and we welcome exploration of these possibilities by NIH scientists."  Dr. Kovach noted that part of the appeal of an M-CRADA for a company is that "NIH grants a collaborator an exclusive option to elect an exclusive or non-exclusive commercialization license."  He adds, "As Lixte is eager to bring new potentially more-effective compounds for the treatment of human diseases to the clinic as rapidly as possible, the company encourages outstanding investigators such as those at NINDS to undertake studies of its compounds."

About Lixte Biotechnology Holdings, Inc.

Lixte is a drug discovery company, using biomarker technology to identify enzyme targets associated with serious common diseases and then design novel compounds to attack those targets. Lixte's product pipeline encompasses two major categories of compounds at various stages of pre-clinical and clinical development which the company believes have broad therapeutic potential not only for cancer but for other debilitating and life-threatening diseases. For further discussion of the Lixte pipeline, go to:

http://lixte.com/Nature_Biotechnology_2013_Lixte_Ad.pdf

Forward-Looking Statements

This announcement contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. For example, statements regarding the Company's financial position, business strategy and other plans and objectives for future operations, and assumptions and predictions about future product demand, supply, manufacturing, costs, marketing and pricing factors are all forward-looking statements. These statements are generally accompanied by words such as "intend," anticipate," "believe," "estimate," "potential(ly)," "continue," "forecast," "predict," "plan," "may," "will," "could," "would," "should," "expect" or the negative of such terms or other comparable terminology. The Company believes that the assumptions and expectations reflected in such forward-looking statements are reasonable, based on information available to it on the date hereof, but the Company cannot provide assurances that these assumptions and expectations will prove to have been correct or that the Company will take any action that the Company may presently be planning. However, these forward-looking statements are inherently subject to known and unknown risks and uncertainties. Actual results or experience may differ materially from those expected or anticipated in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, regulatory policies, available cash, research results, competition from other similar businesses, and market and general economic factors. This discussion should be read in conjunction with the condensed consolidated financial statements and notes thereto in the Quarterly Report on Form 10Q for September 30, 2013.

For additional information, please see: www.lixte.com

SOURCE Lixte