CARLSBAD, Calif., Jan. 23, 2023 (GLOBE NEWSWIRE) -- Qualigen Therapeutics, Inc. (“Qualigen” or “the Company,” Nasdaq: QLGN), a diversified life sciences company focused on developing treatments for adult and pediatric cancers with potential for Orphan Drug Designation, while also commercializing diagnostics, today announces the promotion of Benedict M. Abugan to Vice President, Head of Diagnostics and Corporate Communications.

Mr. Abugan has over two decades of experience in medical diagnostics and therapeutics. He joined Qualigen as a scientist in 2000, supporting the feasibility, development, and successful commercialization of several Qualigen FastPack^® products. While at the Company, Mr. Abugan has served in multiple leadership roles ranging from investor relations, marketing, customer service, technical support, immunoassay development, and manufacturing. Prior to joining Qualigen, he held various positions at leading biotech companies, including Biosite Diagnostics, Acon Laboratories, and Scantibodies Laboratories. Mr. Abugan holds a B.S. in Molecular Biology from the University of California, San Diego.

“Through his more than 20 years at Qualigen, Ben has demonstrated expertise across a myriad of functions. Most recently, Ben served as Sr. Director, Communications and Customer Experience. We are thrilled to see Ben’s continued growth and look forward to expanding his valuable contributions to Qualigen through this well-deserved promotion,” commented Michael Poirier, Chairman and CEO of Qualigen.

Benedict Abugan added, “I am eager to take on this new role, working together with a team that is devoted to providing patients and doctors with high quality diagnostics. I’m confident that the strength and determination of this talented team will propel the FastPack^® business forward for continued success in 2023.”

About Qualigen Therapeutics, Inc.

Qualigen Therapeutics, Inc. is a diversified life sciences company focused on developing treatments for adult and pediatric cancer, as well as maintaining and expanding its core FDA-cleared FastPack^® System, which has been used successfully in diagnostics for over 20 years. Our investigational QN-302 compound is a small molecule selective transcription inhibitor with strong binding affinity to G4s prevalent in cancer cells; such binding could, by stabilizing the G4s against “unwinding,” help inhibit cancer cell proliferation. The investigational compounds within Qualigen’s family of RAS oncogene protein-protein interaction inhibitor small molecules are believed to inhibit or block the binding of mutated RAS genes’ proteins to their effector proteins, thereby leaving the proteins from the mutated RAS unable to cause further harm. In theory, 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. Our investigational QN-247 compound inhibits nucleolin, a key multi-functional regulatory protein that is overexpressed in cancer cells; QN-247 may thereby be able to inhibit the cells’ proliferation. QN-247 has shown promise in preclinical studies for the treatment of acute myeloid leukemia (AML). 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 to physician offices and small hospitals for the management of prostate cancer and other diseases and health conditions.

For more information about Qualigen Therapeutics, Inc., please visit www.qualigeninc.com.

Contact:

Jules Abraham
JQA Partners, Inc.
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