Phio Pharmaceuticals Bolsters Board with Industry Veteran David H. Deming

Phio Pharmaceuticals Corp. (NASDAQ: PHIO), a clinical-stage biotechnology company developing therapeutics using its proprietary INTASYL® siRNA gene silencing technology, has announced the appointment of David H. Deming to its Board of Directors, effective February 19, 2025. Mr. Deming will immediately serve as a member of the Board's Nominating Committee, bringing the total board membership to 6 directors, with 5 being independent.

Mr. Deming brings over 30 years of experience in investment banking and asset management to the Phio board, with a particular focus on the biopharma sector. His extensive background, including 27 years at JP Morgan and leading the Health Group in investment banking for the last 12 years, provides a valuable resource to Phio as it pursues its mission to advance its gene silencing technology for a cancer-free future.

Robert Bitterman, CEO and Chairman of the Board, expressed his enthusiasm about the appointment: "Mr. Deming's extensive experience in the biopharma sector, both through his investment banking career and service on a number of corporate boards, provides a valuable resource to Phio as we pursue our mission to advance our gene silencing technology for a cancer free future."

David Deming's appointment aligns with Phio's strategic goals and long-term vision for its INTASYL siRNA gene silencing technology in several ways. His industry expertise, strategic guidance, fundraising and partnership expertise, and alignment with Phio's mission make him an invaluable addition to the board.



Phio's lead clinical program, PH-762, is an INTASYL compound that silences PD-1, a potential non-surgical treatment for skin cancers. The ongoing Phase 1b trial (NCT# 06014086) received FDA clearance for an Investigational New Drug Application to evaluate PH-762 in the treatment of cutaneous SCC, melanoma, and Merkel cell carcinoma in the second quarter of 2023.

Phio Pharmaceuticals' approach to diversifying its portfolio and reducing exposure to specific risks could be influenced by David H. Deming's appointment, given his background in both M&A and leading the Health Group in investment banking at JP Morgan. His expertise in M&A could help Phio explore strategic partnerships or acquisitions to diversify its portfolio and gain access to new technologies, pipelines, or markets. Additionally, his experience in the Health Group at JP Morgan could help Phio identify new therapeutic areas or indications where INTASYL technology could be applied, reducing the company's exposure to specific risks associated with cancer therapies.



In conclusion, David H. Deming's appointment to the Phio Pharmaceuticals Board of Directors brings valuable industry expertise, strategic guidance, and alignment with the company's mission. His background in investment banking and asset management, particularly in the biopharma sector, could significantly influence Phio's approach to diversifying its portfolio and reducing exposure to specific risks. As Phio continues to advance its INTASYL siRNA gene silencing technology, the addition of Mr. Deming to the board further strengthens the company's position in the biotechnology sector.