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Qualigen Therapeutics Promotes Amy Broidrick to President

Ms. Broidrick to retain title of Chief Strategy Officer

CARLSBAD, Calif., Dec. 14, 2021 (GLOBE NEWSWIRE) -- Qualigen Therapeutics, Inc. (Nasdaq: QLGN), a biotechnology company focused on developing treatments for adult and pediatric cancers with potential for Orphan Drug Designation, today announces a key executive promotion. The company has named Amy Broidrick as President and Chief Strategy Officer. Ms. Broidrick will also continue in her role as a Director. Michael Poirier, who had previously been serving as Chairman, President and Chief Executive Officer, will continue to lead the company as Chief Executive Officer, and Chairman of the Board.

Ms. Broidrick joined the Board of Directors of Qualigen Therapeutics in August 2020, and was later appointed Executive Vice President, Chief Strategy Officer in December 2020.

“We are thrilled to promote Amy to President of Qualigen, as she has been instrumental in guiding our strategy and operations for some time, including the advancement of our oncology pipeline programs QN-247 and RAS-F and the execution of our financial strategy to support our continued progress,” commented Michael Poirier, Qualigen’s Chief Executive Officer.

Ms. Broidrick has over 26 years experience in the biopharmaceutical industry in a variety of functions and increasing responsibility. Ms. Broidrick served from 2016 to 2020 as Senior Vice President, Global Head of Corporate Development of Viking Therapeutics, Inc., a clinical-stage biopharmaceutical company where she was responsible for building and implementing the US and global corporate and business development functions. Before that, she was Vice President, Head of Global Marketing Excellence and Business Innovation with EMD Serono (part of Merck KGaA). Earlier, she was Vice President, Head of Marketing and Commercialization at Arena Pharmaceuticals, Inc., and held roles of increasing responsibility at Merck & Co. and Pfizer (formerly GD Searle) including Global Brand Leader with worldwide P&L accountability. Ms. Broidrick holds a BA from Fairleigh Dickinson University, completed further undergraduate studies at Wroxton College in England, and performed post-graduate work at Fairleigh Dickinson.

“I have long believed in the potential of Qualigen to develop our promising oncology pipeline toward IND applications for ultimately differentiated therapeutics for adult and pediatric cancer patients, coupled with the opportunity to further our FastPack diagnostic business. I am honored to collaborate closely with the team to deliver on these goals,” added Ms. Broidrick.

About Qualigen Therapeutics, Inc.

Qualigen Therapeutics, Inc. is a biotechnology company focused on developing treatments for adult and pediatric cancers with potential for Orphan Drug Designation, as well as maintaining and expanding its core FDA-approved FastPack® System, which has been used successfully in diagnostics for 20 years. Qualigen’s aptamer platform, of which QN-247 is the lead candidate, inhibits nucleolin, a key multi-functional regulatory protein that is overexpressed in cancer cells, thus influencing their proliferation, survival, and metastasis. QN-247 has shown promise in pre-clinical studies for the treatment of acute myeloid leukemia (AML). Qualigen’s RAS-F platform is a family of RAS oncogene protein-protein interaction inhibitor small molecules that is believed to disrupt pathways for cancer genes that cause tumor formation. Such mechanism of action may be effective in the treatment of about one quarter of all cancers, including certain forms of pancreatic, colorectal, and lung cancers. The RAS pathway has generated considerable interest due to recent breakthrough developments in the field and the first clinical approval earlier this year for a K-RAS directed drug. In addition to its oncology drug pipeline, Qualigen has an established diagnostics business which manufactures and distributes proprietary and highly accurate rapid blood testing systems for the management of prostate cancer and other diseases and health conditions. Qualigen’s management has significant experience in drug and medical device development, manufacturing, marketing, and distribution.

For more information about Qualigen Therapeutics, Inc. please visit 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 the Company will develop any drugs (including QN-247 and RAS-F); that preclinical or clinical development of the Company's drugs (including QN-247 and RAS-F, and deprioritized infectious-disease programs such as QN-165) will be completed on any projected timeline or will be successful; that any clinical trials will be approved to begin by or will proceed as contemplated by any projected timeline; 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 will receive required regulatory approvals (including Orphan Drug status) 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 currently owned and inlicensed 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 (including QN-247 and RAS-F, and any repositioning of QN-165); 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 can be found in the Company's prior filings with the Securities and Exchange Commission, including its most recent Form 10-K, all of which are 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:

David Kugelman
Atlanta Capital Partners, LLC
(404) 856-9157 or (866) 692-6847 Toll Free - U.S. & Canada

Tony Schor
Investor Awareness, Inc.
(847) 971-0922