• Company’s Novel Emerging Anti-Cancer Mechanism, Ferroptosis, Addresses Potential Key Target Oncology Markets Projected to reach $11 Billion in 2028  
  
• Signs Exclusive Option Agreement with Applied Biomedical Science Institute to License Technology for HER2 and HER3 to be Developed for Potential Treatments Against Drug Resistant Cancers Including HER2-Positive Metastatic Breast Cancer, Gastric Cancer, Lung Cancer and Ovarian Cancer
• Highlight Recent Preclinical Study of its Lead Drug Candidate HSB-1216 in Combination with Pembrolizumab Demonstrating Positive Results Against KRAS-G12C-mutated Non-Small Cell Lung Cancer Cells
• Discussions on Product and Pipeline Goals Across 4 Pipeline Candidates and its Quatramer™ Tumor-Targeting Platform; Multiple inflection points over the next 12-18 Months

BRIDGEWATER, N.J., Feb. 13, 2023 (GLOBE NEWSWIRE) -- Hillstream BioPharma, Inc. (Nasdaq: HILS) ("Hillstream" or the "Company"), a biotechnology company developing therapeutic candidates targeting drug resistant and devastating cancers using ferroptosis, an emerging new anti-cancer mechanism resulting in iron mediated cell death, and immuno-oncology targeted novel biologics, is providing webcast access to their virtual R&D Day, being held on Tuesday, February 14, 2023.

Webcasting Information

The Company invites and encourages its shareholders and prospective investors to watch its R&D Day webcast. A replay of the R&D Day can be accessed via Hillstream’s IR site, or by dialing 1-877-660-6853 / 201-612-7415 and entering pin number 13736356.

Following prepared remarks, the Company’s guest speakers will discuss Hillstream’s R&D strategy, upcoming presentations, emerging pipeline assets, and anticipated milestones:

• Randy Milby: Chief Executive Officer, Hillstream
• Donald Kufe, MD: Distinguished Physician at the Dana-Farber Cancer Institute, Professor of Medicine at Harvard Medical School and Chair, Hillstream’s Scientific Advisory Board
• Vaughn Smider, MD, Ph.D.: Chief Executive Officer, Applied Biomedical Science Institute

Hillstream is addressing some of the biggest problems in cancer today including drug resistance and cancer metastasis. The Company is attempting to transform the treatment of drug resistant cancers with ferroptosis, an emerging new anti-cancer mechanism which leads to iron mediated cell death. The Company focuses on key target oncology markets which include small cell lung cancer (SCLC), triple negative breast cancer (TNBC), and metastatic castration resistant prostate cancer (mCRPC), projected to reach $11 billion by 2028.

The Company recently announced preclinical results which demonstrated significantly greater tumor inhibition when combining its most advanced drug candidate HSB-1216 with immune checkpoint inhibitors in KRAS G12C-mutated non-small cell lung cancer (NSCLC) cells, Calu-1, with pembrolizumab (KEYTRUDA^®) an anti-PD-1 antibody.

Additionally, yesterday, Hillstream signed an exclusive option agreement with Applied Biomedical Science Institute to license technology for HER2 and HER3 Conformational Domain Bridging Epitopes in human monoclonal antibodies to develop proprietary multi-format biologics (bi- and tri-specific antibodies, ADCs (antibody drug conjugates), CAR-T and CAR-NKs, in Quatramers and Quatrabodies) against drug resistant cancers including HER2-positive metastatic breast cancer, gastric cancer, lung cancer and ovarian cancer.

About Hillstream BioPharma Inc.

Hillstream BioPharma, Inc. is a biotechnology company developing therapeutic candidates targeting drug resistant and devastating cancers using ferroptosis, an emerging new anti-cancer mechanism resulting in iron mediated cell death, and immuno-oncology targeted novel biologics. The Company’s most advanced candidate, HSB-1216, expected to enter clinical trials in 2023, targets ferroptosis, an emerging new anti-cancer mechanism resulting in iron mediated cell death (IMCD) of drug resistant cancers. The Company’s emerging immuno-oncology pipeline is led by the HSB-1940 Quatrabody™, an anti-PD-1 novel biologic coated onto Quatramers, expected to enter the clinic in 2024. Hillstream’s Quatramer™ proprietary tumor targeting platform extends duration of action and minimizes off-target toxicity for biologics, mRNA, peptides, small molecules and other modalities in the tumor microenvironment. Quatrabody conjugates novel biologics developed against undruggable epitopes of validated immuno-oncology targets, including PD-1, HER2, PDL-1 and TROP2 with greater binding affinity than approved therapies. For more information, please visit: www.hillstreambio.com.

Forward Looking Statements

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified using words such as “anticipate,” “believe,” “forecast,” “estimated” and “intend” or other similar terms or expressions that concern Hillstream’s expectations, strategy, plans or intentions. These forward-looking statements are based on Hillstream’s current expectations and actual results could differ materially. There are several factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, clinical trials involve a lengthy and expensive process with an uncertain outcome, and results of earlier studies and trials may not be predictive of future trial results; our clinical trials may be suspended or discontinued due to unexpected side effects or other safety risks that could preclude approval of our product candidates; risks related to business interruptions, including the outbreak of COVID-19 coronavirus, which could seriously harm our financial condition and increase our costs and expenses; dependence on key personnel; substantial competition; uncertainties of patent protection and litigation; dependence upon third parties; and risks related to failure to obtain FDA clearances or approvals and noncompliance with FDA regulations. Investors should read the risk factors set forth in our Form 10-K for the year ended December 31, 2021 and our periodic reports filed with the Securities and Exchange Commission. While the list of factors presented here is considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Forward-looking statements included herein are made as of the date hereof, and Hillstream does not undertake any obligation to update publicly such statements to reflect subsequent events or circumstances.

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www.hillstreambio.com