Bio-Path Holdings, Inc., (OTCQX: BPTH) (“Bio-Path”), a biotechnology company developing a liposomal delivery technology for nucleic acid cancer drugs, today announced it is initiating development of its lead cancer drug BP-100-1.01 (Liposomal Grb-2) to treat triple negative breast cancer (TNBC) and inflammatory breast cancer (IBC), two cancers characterized by formation of aggressive tumors and relatively high mortality rates. Bio-Path is currently evaluating Liposomal Grb-2 in a Phase I clinical trial as a systemic treatment for blood cancers including acute myeloid leukemia (AML), chronic myelogenous leukemia (CML), acute lymphoblastic leukemia (ALL) and myelodysplastic syndrome (MDS). The trial is being conducted at The University of Texas MD Anderson Cancer Center (MD Anderson Cancer Center). Bio-Path has been in discussions over the last six months with senior breast cancer researchers at the MD Anderson Cancer Center regarding the potential of its lead drug candidate Liposomal Grb-2 to treat TNBC and IBC. These researchers have made a strong scientific case that blocking over-expression of the Grb-2 protein using Bio-Path’s drug candidate Liposomal Grb-2 has the potential to be an effective treatment for TNBC and IBC. Grb-2 is an adaptor protein that acts as a critical linker between growth factor receptors and the RAS pathway, a pathway commonly activated in cancer. TNBC and IBC often over-express multiple growth factor tyrosine kinase receptors involved in growth proliferation, survival and invasion. These are important tyrosine kinases involved in TNBC and IBC progression and have been shown to utilize the Grb-2 protein in their signaling pathways. Bio-Path’s drug candidate Liposomal Grb-2 has an antisense drug substance that prevents the cell from producing the Grb-2 protein. In addition, since Grb-2 is involved in multiple cancer signaling pathways, blocking Grb-2 provides multiple opportunities to interrupt or limit tumor progression. Bio-Path’s plan is to develop Liposomal Grb-2 as a targeted therapy against TNBC and IBC. Treatment goals are two-pronged: the first being to develop Liposomal Grb-2 as a tumor reduction agent in combination with other approved drugs in pre-operative settings, and the second is to develop Liposomal Grb-2 as a drug to treat and control or eliminate cancer metastasis in TNBC and IBC patients. Both of these treatment goals address high need situations for patients.