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Lixte Biotechnology Holdings Announces Issuance of U.S. Patent for Agents for the Treatment of Neurodegenerative Diseases

EAST SETAUKET, N.Y., Jan. 9, 2012 /PRNewswire/ -- Lixte Biotechnology Holdings (OTC: LIXT.PK) announces that the United States Patent and Trademark Office awarded a patent for the use of lead compounds from each of two different types of drugs, protein phosphatase inhibitors and histone deacetylase inhibitors, for the potential prevention and treatment of neurodegenerative diseases.

Dr. John S. Kovach, founder and president of Lixte, said, "We have developed a series of novel compounds primarily as potential treatments for several common cancers as well as brain tumors of adults and children.  Some of these compounds, however, have been shown in laboratory studies to affect the biochemical status of human brain cells in ways believed to be beneficial to normal cell function and, unlike most potent anti-cancer drugs, appear to have tolerable toxicity in animals even when given for many days. We are looking to develop these compounds as neuroprotective agents of potential relevance to the prevention and treatment of a broad spectrum of neurodegenerative diseases, including acute neurological injury and chronic conditions such as Alzheimer's disease and Parkinson's disease.  Because Lixte is predominantly focused on developing anti-cancer drugs, we are interested in exploring licensing and/or partnerships for development of our lead compounds with companies having major programs in prevention and treatment of neurological illnesses."

About Lixte Biotechnology Holdings, Inc.

Lixte is a cancer drug discovery company, using biomarker technology and innovative chemistry to develop new potentially more effective anti-cancer drugs. It has lead compounds in two classes of drugs, protein phosphatase inhibitors for which a US patent was recently issued with world-wide patent applications pending for its lead compound LB-100 and structural variants , and novel histone deacetylase inhibitors for which broad patent applications are also pending. The Company is targeting treatments for several types common and rarer but devastating cancers. The primary emphasis is on the most common and most aggressive type of brain cancer of adults, glioblastoma multiforme and other cancers of neural tissue (nerve and brain), including medulloblastoma, the most common brain tumor of children, and neuroblastoma, the most common cancer of children, as well as non-neural cancers of adults, including breast and pancreatic cancer, melanomas and sarcomas.

Forward-Looking Statements

This announcement contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. For example, statements regarding the Company's financial position, business strategy and other plans and objectives for future operations, and assumptions and predictions about future product demand, supply, manufacturing, costs, marketing and pricing factors are all forward-looking statements. These statements are generally accompanied by words such as "intend," anticipate," "believe," "estimate," "potential(ly)," "continue," "forecast," "predict," "plan," "may," "will," "could," "would," "should," "expect" or the negative of such terms or other comparable terminology. The Company believes that the assumptions and expectations reflected in such forward-looking statements are reasonable, based on information available to it on the date hereof, but the Company cannot provide assurances that these assumptions and expectations will prove to have been correct or that the Company will take any action that the Company may presently be planning. However, these forward-looking statements are inherently subject to known and unknown risks and uncertainties. Actual results or experience may differ materially from those expected or anticipated in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, regulatory policies, available cash, research results, competition from other similar businesses, and market and general economic factors. This discussion should be read in conjunction with the condensed consolidated financial statements and notes thereto in the SEC Report on Form 10-QSB for the quarter ending September 30, 2011.

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SOURCE Lixte Biotechnology Holdings, Inc.
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