BeneVir Biopharm, Inc., a biotechnology company developing oncolytic immunotherapies for the treatment of cancer, announced today that the U.S. Patent and Trademark Office has issued US Patent No. 9,623,059, entitled "Oncolytic Herpes Simplex Virus and Therapeutic Uses Thereof", covering the composition of matter for Stealth-1H, BeneVir's lead oncolytic immunotherapy, as well as other platform assets. BeneVir is a portfolio company within Pansend Life Sciences, a subsidiary of HC2 Holdings, Inc. (NYSE MKT: HCHC)

Oncolytic immunotherapies are live, infectious viruses that selectively replicate in tumors with the goal of stimulating an anti-tumor immune response. Stealth-1H is the first oncolytic immunotherapy resistant to the anti-viral effects of both innate and acquired immunity. This resistance allows Stealth-1H to safely replicate, spread, and kill tumor cells despite a robust, multi-armed immune attack against the virus. While anti-viral immune attack is amplified when oncolytic immunotherapies are combined with immunostimulatory agents such as anti-PD1/PDL1, OX40L, and ICOS-Ligand, Stealth-1H hides from the immune system, enabling maximum efficacy in combination with these agents.

The patent is exclusively licensed to BeneVir from NYU School of Medicine. The technology originated in the lab of Ian Mohr, Ph.D., Professor of Microbiology at NYU School of Medicine, and Chair of BeneVir's Scientific Advisory Board. Dr. Mohr is a world leader in the field of oncolytic immunotherapy and invented key intellectual property used to create the first FDA-approved oncolytic immunotherapy.

"I am delighted that this patent further strengthens the product development program at BeneVir. I look forward to continuing the exciting, productive relationship between BeneVir and my lab," said Dr. Mohr.

"This patent protects BeneVir's product platform through 2032," said Matt Mulvey, BeneVir CEO. "We plan to bring Stealth-1H into the clinic next year and accelerate the pre-clinical development of our platform assets to help a diverse array of patients whose tumors do not respond to current therapeutic options, including immune checkpoint inhibitors."

About BeneVir

BeneVir Biopharm, Inc., is a portfolio company within Pansend Life Sciences, a subsidiary of HC2 Holdings, Inc. Its offices and laboratories are located in Gaithersburg, MD, which is part of the BioHealth Capital Region. BeneVir is developing a platform of oncolytic immunotherapies based on T-Stealth TM Technology, which promotes the persistence and efficacy of oncolytic immunotherapies in advanced tumors. Learn more about BeneVir at http://www.benevir.com.

About HC2

HC2 Holdings, Inc. is a publicly traded (NYSE MKT:HCHC) diversified holding company, which seeks opportunities to acquire and grow businesses that can generate long-term sustainable free cash flow and attractive returns in order to maximize value for all stakeholders. HC2 has a diverse array of operating subsidiaries across seven reportable segments, including Construction (formerly Manufacturing), Marine Services, Energy (formerly Utilities), Telecommunications, Life Sciences, Insurance and Other. HC2's largest operating subsidiaries include DBM Global Inc., a family of companies providing fully integrated structural and steel construction services, and Global Marine Systems Limited, a leading provider of engineering and underwater services on submarine cables. Founded in 1994, HC2 is headquartered in New York, New York. Learn more about HC2 and its portfolio companies at  www.hc2.com.

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