CHARLOTTESVILLE, Va., Nov. 08, 2016 (GLOBE NEWSWIRE) -- Diffusion Pharmaceuticals Inc. (OTCQX:DFFN), a clinical stage
biotechnology company focused on the development of novel small molecule therapeutics for cancer and other hypoxia-related
diseases, today announced that its shares of common stock were approved for listing on the NASDAQ Capital Market. Trading on the
NASDAQ Capital Market will commence on November 9, 2016, and the Company’s shares of common stock will continue to trade under the
ticker symbol “DFFN.”
David G. Kalergis, Chairman and Chief Executive Officer, stated, “Listing on the NASDAQ Capital Market is an
important milestone for Diffusion, and I am extremely pleased to have achieved this goal in the growth of the Company. We expect
the NASDAQ listing to enhance the Company’s visibility among investors and allow us to attract a broader and more diverse
shareholder base.”
About Diffusion Pharmaceuticals
Diffusion Pharmaceuticals is a clinical stage biotechnology company focused on extending the life expectancy of
cancer patients by improving the effectiveness of current standard-of-care treatments including radiation therapy and chemotherapy.
The Diffusion technology is a paradigm shift in the approach to the treatment of cancer and other diseases involving hypoxia, or
oxygen deprivation, in that it facilitates the diffusion of oxygen to hypoxic tissues. Diffusion is developing its lead drug,
trans sodium crocetinate (TSC), for use in the many cancer types in which tumor hypoxia (oxygen deprivation) is known to
diminish the effectiveness of current treatments. TSC targets the cancer's hypoxic micro-environment, re-oxygenating
treatment-resistant tissue and making the cancer cells more vulnerable to the therapeutic effects of treatments such as radiation
therapy and chemotherapy, without the apparent addition of any serious side effects.
A Phase 2 clinical program, completed in the second quarter of 2015, evaluated 59 patients with newly diagnosed
glioblastoma multiforme (GBM). This open label, historically controlled study demonstrated a favorable safety and efficacy profile
for TSC combined with standard of care. The U.S. Food and Drug Administration has guided the design of a Phase 3 trial in newly
diagnosed GBM. Additional planned studies, subject to receipt of necessary financing, include a Phase 2 trial in pancreatic cancer
and a study in brain metastases. Due to its novel mechanism of action, TSC has safely re-oxygenated a range of tumor types in our
preclinical and clinical studies. Diffusion believes its therapeutic potential is not limited to specific tumors, thereby making it
potentially useful to improve standard of-care treatments of other life-threatening cancers and multiple hypoxia-linked
disorders.
Forward-Looking Statements
To the extent any statements made in this news release deal with information that are not historical facts, these are
forward-looking statements under the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited
to, statements about the company's plans, objectives, expectations and intentions with respect to future operations and
products, the potential of Diffusion’s technology and product candidates, the continued development of TSC in GBM, pancreatic
cancer and possibly other indications and other statements that are not historical in nature, including those that utilize
terminology such as "would," "will," "plans," "possibility," "potential," "future," "expects," "anticipates," "believes,"
"intends," "continue," "continue," “estimates,” “targets,” “projects,” “intends,” other words or expressions of similar meaning,
derivations of such words or expressions and the use of future dates. Forward-looking statements by their nature address matters
that are, to different degrees, uncertain and involve both known and unknown risks. These uncertainties and risks may cause
Diffusion's actual results to be materially different than those expressed in or implied by such forward-looking statements.
Particular uncertainties and risks include; general business and economic conditions; Diffusion’s need for and ability to obtain
additional financing; Diffusion’s ability to satisfy regulatory requirements with respect to its product candidates; Diffusion’s
ability to maintain and defend its intellectual property; the conduct and success of Diffusion’s clinical trials, including
successful enrollment in those trials; the safety and efficacy of Diffusion’s product candidates; Diffusion’s ability to retain and
recruit qualified personnel; the difficulty of developing pharmaceutical products, obtaining regulatory and other approvals and
achieving market acceptance; and the other factors discussed in Diffusion’s public filings, including the risk factors including in
Diffusion’s most recent Annual Report on Form 10-K. All forward-looking statements in this news release speak only as of the date
of this news release and are based on Diffusion’s management's current beliefs and expectations. Investors, potential investors and
other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to
place undue reliance on such forward-looking statements. Diffusion undertakes no obligation to update or revise any forward-looking
statement, whether as a result of new information, future events or otherwise after the date of this release, except as required by
applicable law.
Diffusion Pharmaceuticals Contacts David Kalergis Chief Executive Officer Diffusion Pharmaceuticals Inc. (434) 220-0718 dkalergis@diffusionpharma.com Stephanie Carrington ICR Inc. (646) 277-1282 Stephanie.Carrington@icrinc.com
