Spherix Announces the Addition of Dr. Rana Quraishi to Company's Advisory Board

NEW YORK, Oct. 29, 2018 /PRNewswire/ -- Spherix Incorporated (Nasdaq: SPEX) today announced that it has added Dr. Rana Quraishi to the Company's Advisory Board to assist the Company in evaluating potential opportunities in the biopharmaceutical area.

Dr. Rana Quraishi is the Director of New Ventures, at UM Ventures University of Maryland, Baltimore.  UM Ventures is a joint initiative bringing the University of Maryland, Baltimore and University of Maryland, College Park together to commercialize discoveries and create economic impact by engaging partners in industry and social ventures.  Dr. Quraishi has a Ph.D. in Molecular Biology and Biochemistry from Columbia University where she was also an undergraduate and an M.S. from Harvard University.

Dr. Quraishi has spent much of her career working in life science directed finance, investment and consulting organizations.

At the TCG Group, a premiere private equity firm, she focused on business development opportunities for its life science companies. Prior to this, she was a Principal at Conning Capital Partners/SwissRe an early stage private equity fund providing growth capital for entrepreneurial companies where she served on Boards of several portfolio companies.

Dr. Quraishi also served as CFO/Senior Advisor for Helicon Therapeutics, a start-up with assets contributed by Cold Spring Harbor and OSI Pharmaceuticals. She developed the company's business plan and made investor presentations leading to initial funding. Helicon was subsequently acquired.

Earlier in her career Dr. Quraishi worked for Standard and Poor's, GE Capital where she was Commercial Quality Leader for GE Capital and prior to that headed the Business Development Group at its FGIC subsidiary, J.E. Seagram and American Express where she led treasury and acquisitions and divestitures groups.

She has served on several for-profit and not for-profit boards and has also authored the widely read "Market Demand Study for Commercial Biotechnology, Biomedical, and Bioinformatics Facilities in New York City" for the New York City Partnership and Investment Fund.

Dr. Quraishi stated, "I'm committed to moving pioneering technologies toward commercialization and delighted to join the Spherix Advisory Board to advance that effort."

Anthony Hayes, the Chief Executive Officer of Spherix stated, "We continue to make strategic investments in both biotechnology and human capital. Dr. Quraishi is another checkmark to assist us in our transformation into a biotech company. We are confident her experience and industry knowledge will assist Spherix through these exciting times. All of the pieces are coming together with the recently announced proposed merger with CBM and its ground breaking drug research.

About Spherix Incorporated

Spherix Incorporated was launched in 1967 as a scientific research company. Spherix is committed to advancing innovation by participation in the development of new technology. Spherix draws on portfolios of pioneering technology to support product innovation.

Forward-Looking Statements

Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. We are a small company with limited financial resources and our scientific background and abilities to implement a commercialization strategy is subject to ever-changing market conditions and rapidly-advancing technologies over which we have no control. While we believe that these forward-looking statements are reasonable, market conditions and competition in the marketplace is ever-changing and we have no control over these influences. As a result, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC") including, but not limited to, the Risk Factors relating to the Company's patent business and other aspects of the Company's business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

SOURCE Spherix Incorporated

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