Mr. Nielsen continued, “Over the course of the next 12-months, Bio-Path will be developing Liposomal Grb-2 for treatments for three high priority disease areas, including TNBC, AML and MDS. In a recent September 2012 news release, MD Anderson Cancer Center announced a Moon Shots Program that was targeting eight cancers for intensive development of treatments; three of these targeted cancers are indications for which Bio-Path will be focusing its development efforts. Bio-Path’s drug candidate Liposomal Grb-2 has what researchers describe as ‘disruptive technology’ and is a potential game changer that can make significant advances in these priority disease areas.”About Triple Negative Breast Cancer Triple negative breast cancer (TNBC) tumors do not express estrogen receptors, progesterone receptors, and low HER2. These negative results mean that the growth of the cancer is not supported by the hormones estrogen and progesterone, or by the presence of too many HER2 receptors. Therefore, TNBC does not respond to hormonal therapy or therapies that target HER2 receptors. In addition, TNBC tumors are very aggressive. Approximately 15 to 20 percent of breast cancers are triple-negative. About Inflammatory Breast Cancer Inflammatory breast cancer (IBC) is a rare and very aggressive disease in which cancer cells block lymph vessels in the skin of the breast. This type of breast cancer is called “inflammatory” because the breast often looks swollen and red, or “inflamed.” IBC accounts for two to five percent of all breast cancers. IBC tumors are very aggressive and are frequently hormone receptor negative, which means hormone therapies may not be effective. Five year survival rate for IBC is 40 percent versus 87 percent for all breast cancers combined, making IBC a priority area for development of new treatments. About Bio-Path’s Delivery Technology Bio-Path’s drug delivery technology involves microscopic-sized liposome particles that distribute nucleic acid drugs systemically and safely throughout the human body, via simple intravenous infusion. The delivery technology is applied to single stranded (antisense) nucleic acid compounds with the potential to revolutionize the treatment of cancer and other diseases where drugable targets of disease are well characterized. The Company is currently focused on developing liposomal antisense drug candidates. Bio-Path also anticipates developing liposome tumor targeting technology, representing next-generation enhancements to the Company’s core liposome delivery technology.