GARDEN CITY, NY, May 08, 2023 (GLOBE NEWSWIRE) -- ProPhase Labs, Inc. (NASDAQ: PRPH), a next generation biotech, genomics and diagnostics company, today announced that Dr. Matthew Halpert has been hired as a full-time consultant to drive the Company’s key therapeutic and diagnostic programs forward which will comprise the backbone of ProPhase’s efforts in both advanced cancer therapeutics and targeted cancer diagnostics.

Dr. Halpert will assist with several ongoing programs at ProPhase BioPharma (PBIO) including Linebacker-1 initiatives as a cancer mono-therapy as well as to be developed as a potential co-therapy with multi-billion-dollar drugs like Doxorubicin. LB-1 is currently going into xenograft (mouse) studies in collaboration with the Dana Farber Cancer Institute and Harvard University scientists with the goal of completing a Phase 1 human clinical trial in 2024. Dr. Halpert will also assist with the BE-Smart Esophageal Cancer Test that is expected to advance into validation studies by Q4 2023 for research use only (RUO) testing and broad commercialization with CPT codes in early 2024. Dr. Halpert will work closely with our ProPhase team in finalizing human clinical trials for Equivir, a broad-based anti-viral to be marketed as a dietary supplement that is expected to be commercialized by Q4 2023. Dr. Halpert will also assist the ProPhase team on other new and exciting programs which will be announced at a later date as they advance in pre-clinical testing.

Dr. Matthew Halpert, Ph.D. earned his doctorate at the University of Alabama-Birmingham (UAB), and then spent 10 years at Baylor College of Medicine in Houston as a cancer immunologist. His research in the space of ‘immunity’ and ‘novel cancer treatments’ lead to several peer-reviewed publications and book chapters, hundreds of citations, a variety of patents, positions on multiple charitable boards, and establishment as one of the leading experts regarding cutting-edge mechanistic science as it pertains to the treatment of cancer. While an academic researcher, he launched both a Cancer focused charity and a Cancer Research company which has taken some of the most advanced immunotherapy unique to Dr. Halpert’s research into several FDA clinical trials, all of which are currently showing signs of significance. As an efficient, motivated, science-business hybrid with demonstrated experience in taking forward-thinking academic discoveries into the FDA pathways in commercially viable spaces, Dr. Halpert left academia to further assist in bridging the gap between “solid, foundational science” and “clinical applicability.” In that vein, Dr. Halpert has joined the Company to expedite multiple innovative technologies towards approved, practical inclusion in the clinic where people in need will truly see their lives transformed.

“Having started several oncology focused companies, Dr. Halpert is perfectly qualified to help ProPhase develop Linebacker-1 as both a mono-therapy and co-therapy in several difficult to treat cancers,” commented Ted Karkus, CEO of ProPhase Labs.” “Dr. Halpert will be a key participant in trial design, regulatory preparation and the potential commercialization of numerous therapeutic products at the Company. Dr Halpert has both the expertise and experience to assist and guide PBIO assets through all regulatory steps toward commercialization.”

“Dr. Halpert has a unique perspective and strong track record as an objective and well-regarded scientist. He also understands how to execute along the pathway toward clinical inclusion and FDA approvability with an unmatched passion,” praised Ted Karkus, CEO of ProPhase Labs. “He will be working very closely with our team to expedite a cutting-edge Esophageal Cancer Test which has multi-billion-dollar potential and could be commercialized with CPT insurance codes in potentially less than 12 months, the multi-faceted Linebacker cancer treatment, and Equivir as a broad based anti-viral option (OTC/dietary supplement and Rx).”

About ProPhase Labs

ProPhase Labs, Inc. (Nasdaq: PRPH) (“ProPhase”) is a next-generation biotech, genomics and diagnostics company. Our goal is to create a healthier world with bold action and the power of insight. We’re revolutionizing healthcare with industry-leading Whole Genome Sequencing solutions, while developing potential game changer diagnostics and therapeutics in the fight against cancer. This includes a potentially life-saving cancer test focused on early detection of esophageal cancer and potential breakthrough cancer therapeutics with novel mechanisms of action. Our world-class CLIA labs and cutting-edge diagnostic technology provide wellness solutions for healthcare providers and consumers. We develop, manufacture, and commercialize health and wellness solutions to enable people to live their best lives. We are committed to executional excellence, smart diversification, and a synergistic, omni-channel approach. ProPhase Labs’ valuable subsidiaries, their synergies, and significant growth underscore our multi-billion-dollar potential.

Forward Looking Statements

Except for the historical information contained herein, this document contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our strategy, plans, objectives and initiatives and projected timelines for its preclinical and clinical programs and commercialization. Management believes that these forward-looking statements are reasonable as and when made. However, such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those projected in the forward-looking statements. These risks and uncertainties include but are not limited to our ability to obtain and maintain necessary regulatory approvals, general economic conditions, consumer demand for our products and services, challenges relating to entering and growing new business lines, the competitive environment, and the risk factors listed from time to time in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and any other SEC filings. The Company undertakes no obligation to update forward-looking statements except as required by applicable securities laws. Readers are cautioned that forward-looking statements are not guarantees of future performance and are cautioned not to place undue reliance on any forward-looking statements.

For more information, visit www.ProPhaseLabs.com.

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