Kinex Pharmaceuticals, LLC converting from a LLC to a C-Corporation

     Kinex Pharmaceuticals, LLC converting from a LLC to a C-Corporation

PR Newswire

BUFFALO, N.Y., Jan. 4, 2013

BUFFALO, N.Y., Jan. 4, 2013 /PRNewswire/ --Kinex Pharmaceuticals today
announced that it has converted the company from a Limited Liability
Corporation into a C-Corporation, a planned strategic step to help drive
future growth.

"Converting to a C-Corporation structure provides additional opportunity to
access capital markets and funding sources not typically afforded under LLC
structure and is the next logical phase in the evolution of the Company.It
positions Kinex to maximize value for our share and stakeholders," said Flint
Besecker, Chairman of the Audit and Finance committee. Mr. Besecker has held a
number of nationwide executive positions in the healthcare and financial
industry, including Care Investment Trust, CIT Healthcare, GE Healthcare
Financial Services, Heller Healthcare Finance and Healthcare Financial

Jean-Pierre Sommadossi, PhD, board member and co-founder of Pharmassetand
founder and former Chairman and CEO of Idenix, added, "Kinex's pipeline
continues to expand and advance clinically. This new structure will allow
Kinex to explore various strategic options as we move our programs forward.
This conversion also addresses the needs of shareholders as well as current
and future partners."

About Kinex Pharmaceuticals, LLC

Kinex Pharmaceuticals, headquartered in Buffalo, New York, USA, is using its
proprietary technologies Mimetica and Opal to discover and develop novel drugs
for oncology and immune-modulatory diseases. More information of Kinex
Pharmaceuticals can be found at

Kinex Inquiries:

Patrick Gallagher
Vice President, Business Development and Investor Relations
Kinex Pharmaceuticals
701 Ellicott Street
Buffalo, NY 14203

SOURCE Kinex Pharmaceuticals

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