Phio Pharmaceuticals Corp. announced that Robert Bitterman has been appointed by the Board of Directors to serve as the Company's President and Chief Executive Officer, 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. 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.