Phio Pharmaceuticals Appoints Robert Bitterman as President and Chief Executive Officer

Phio Pharmaceuticals, a clinical-stage biotechnology company whose proprietary INTASYL™ RNAi platform technology is designed to make immune cells more effective in killing tumor cells, today announced that Robert Bitterman has been appointed by the Board of Directors to serve as the Company’s President and Chief Executive Officer (CEO), effective as of February 20, 2023. Mr. Bitterman has served as Interim Chief Executive Officer since September 2022. Mr. Bitterman will continue to serve as Chair of the Board, and as the Company’s principal executive officer and principal financial officer.

“As we considered the next chapter for Phio, the Board undertook a thorough search for a full-time CEO,” said Robert Ferrara, Phio’s Lead Independent Director. “We evaluated potential candidates who could effectively lead the Company at this important time in its history, as we ramp up our clinical activities and manage several development programs with our partners. Since taking on the interim CEO role in September 2022, Bob has proven to be a strategic and effective leader of Phio. His extensive leadership experience and existing knowledge of our pipeline make him the most qualified executive to lead Phio forward as we advance our clinical programs and drive shareholder growth. We appreciate his stepping into this role full-time.”

“During the last several months, I have seen the passion and dedication of Phio’s team as we continue to make steady progress across several programs in our pipeline and set a clear path for the future. I look forward to continuing to advance our strategy and delivering on several of the preclinical and clinical milestones set for 2023 and 2024,” stated Mr. Bitterman, President and CEO of Phio Pharmaceuticals.

Mr. Bitterman has served as a member and the Chairman of the Company’s Board since 2012 and as the Interim Executive Chairman of the Company since September 2022. Previously, Mr. Bitterman served as the President and Chief Executive Officer of Cutanea Life Sciences, Inc., a private company he founded in 2005 that focused on developing innovative technologies to treat diseases and disorders of the skin and subcutaneous tissue. He led the company until its acquisition by Biofrontera, Inc., USA in March 2019. Prior to his role at Cutanea Life Sciences, Inc., Mr. Bitterman held the position of President and Chief Executive Officer of Isolagen, Inc., President and General Manager of Dermik Laboratories, and various positions of increasing responsibility in financial and commercial capacities within Aventis S.A. Mr. Bitterman holds an A.B. degree in Economics from The College of the Holy Cross, and a Master of Business Administration degree from Boston University. He also holds a Doctor of Humane Letters (Honoris Causa) from the New York College of Podiatric Medicine.