Rafael Pharmaceuticals, Inc. Announces Corporate Name Change to Cornerstone Pharmaceuticals, Inc.

Cranbury, NJ, May 19, 2022 (GLOBE NEWSWIRE) -- Rafael Pharmaceuticals, Inc. (“Rafael” or the “Company”), a company focused on the development of rare cancer therapeutics, today announced that it is changing its name to Cornerstone Pharmaceuticals, Inc. (“Cornerstone”), its original company name. All company branding, including the website and logo have been updated accordingly.

“Over these last few months, the Board of Directors has worked to determine the direction of our company. With communities of patients and physicians relying on us to deliver hope, the Board of Directors tasked ourselves with figuring out how we can best serve them moving forward,” said Sanjeev Luther, President & CEO of Cornerstone Pharmaceuticals. “Who are we today? Ultimately, the answer was very simple: we are who we have always been – an organization that is dedicated to addressing significant unmet needs with therapies for rare cancers. That has not changed. CPI-613^Ò (devimistat) continues to have promise and bring hope to the rare cancer community, and we are working to rebuild and find its path forward.”

Luther added, “In assessing how we can best support the people who matter to us most – patients with rare cancers – the Board of Directors recognized that we have always strived to be a pillar, a foundation, a cornerstone for them on their journey. Now, more than ever, we want our patients to know how committed we are to developing treatments for rare cancers.”

The company’s clinical trials in Burkitt’s lymphoma, biliary tract cancer and clear cell sarcoma are continuing to meet enrollment and data milestones. To date, the U.S. Food and Drug Administration (FDA) has designated devimistat as an orphan drug for the treatment of Burkitt’s lymphoma, biliary tract cancer and soft tissue sarcoma. The European Medicines Agency (EMA) has granted orphan drug designation to devimistat for Burkitt’s lymphoma.

New trials in the pipeline for hematologic and solid tumors will launch in Q2 and Q3 2022.

Patients can visit the clinical trial portal to learn more about enrollment at https://cornerstonepharma.com/cornerstone-study-connect.

About Cornerstone Pharmaceuticals, Inc.
Cornerstone Pharmaceuticals (“Cornerstone”) is committed to the development of therapies for rare cancers that have few to no treatment options available. Cornerstone’s lead compound, CPI-613® (devimistat), is designed to target the mitochondria of cancer cells in order to disrupt their energy production, cutting off the fuel for disease growth. Devimistat is undergoing multiple clinical trials and has been granted orphan drug designation by the U.S. Food and Drug Administration (FDA) for the following indications: Burkitt’s lymphoma, biliary tract cancer, soft tissue sarcoma, myelodysplastic syndrome (MDS) and peripheral T-cell lymphoma. In addition, the European Medicines Agency (EMA) has granted orphan drug designation to devimistat for Burkitt’s lymphoma.

With science stemming from the world’s most renowned institutions and compassion that runs deep, Cornerstone strives to improve the lives of people with rare cancers, inaugurating a new era of hope. For more information, please visit www.cornerstonepharma.com.

Safe Harbor Statement
This press release contains forward-looking statements. These statements relate to future events or the company’s future financial performance. In some cases, you can identify forward-looking statements by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential" or "continue", the negative of such terms, or other comparable terminology. These statements are only predictions. Actual events or results may differ materially from those in the forward-looking statements as a result of various important factors. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the company, or any other person, that such forward-looking statements will be achieved. The business and operations of the company are subject to substantial risks which increase the uncertainty inherent in forward-looking statements. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements.

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Morrena Villanueva
cornerstone@antennagroup.com
(609) 201-3408