Spherix Drug Candidate SPX-106 Shows Statistically Significant Reductions In Serum Triglycerides In Preclinical Testing

Spherix Incorporated (NASDAQ: SPEXD) -- an innovator in biotechnology for therapy in diabetes, metabolic syndrome and atherosclerosis, and providers of technical and regulatory consulting services to food, supplement, biotechnology and pharmaceutical companies --today announced that its drug candidate, SPX-106, achieved statistically significant reductions in triglycerides and cholesterol when administered in combination with D-tagatose for nine weeks to genetically engineered mice prone to dyslipidemia.SPX-106 is one of five small molecules licensed by Spherix last year. In early 2011, Spherix initiated the preclinical development of SPX-106 and D-tagatose as a treatment for hypertriglyceridemia. In the recently completed study, treatment of animals using combination therapy with twice-daily oral dosing significantly reduced triglycerides by 43 mg/dl compared with control animals with a mean triglyceride level of 118 mg/dl (p=0.01). The same therapy significantly reduced total cholesterol by 73 mg/dl from a mean level of 378 mg/dl compared with control animals (p=0.01).SPX-106 is in preclinical development in combination with other agents, including D-tagatose, for the prevention and treatment of atherosclerosis, hypertriglyceridemia and related dyslipidemias. The Company has initiated development of SPX-106 and D-tagatose as a treatment for hypertriglyceridemia, and plans to start an initial human efficacy study in the fourth quarter of 2011 or the first quarter of 2012."Spherix has toxicology, preclinical, clinical and other studies underway, and the findings of this preclinical study advance our understanding of the effects of SPX-106 and D-tagatose on triglycerides and cholesterol," said Dr. Claire Kruger, Chief Executive Officer of Spherix. "The market for triglyceride-lowering drugs exceeds $3 billion annually in the U.S. alone, and we believe that, should our studies be successful, there will be an important role for SPX-106 to play in the treatment regimen."In December 2010, the Company signed a research contract with a leading global contract research organization (CRO) to investigate the role of SPX-106 and D-tagatose in lowering triglycerides. Work will continue through at least 2012. In the first phase of this program, the Company is working with the CRO to design and execute studies in cell culture, animal models and humans to clarify the mechanism of action of SPX-106 and D-tagatose in modulating triglycerides in the metabolic syndrome.