HOUSTON, March 11, 2020 (GLOBE NEWSWIRE) -- Bio-Path Holdings, Inc., (NASDAQ:BPTH), a biotechnology company leveraging its proprietary DNAbilize antisense RNAi nanoparticle technology to develop a portfolio of targeted nucleic acid cancer drugs, today announced that the Audit Committee of the Company’s Board of Directors approved the appointment of Ernst & Young LLP as the Company’s new independent registered public accounting firm, replacing former auditor, BDO USA, LLP.

BDO’s reports on the Company’s financial statements for the years ended December 31, 2019 and 2018 did not contain an adverse opinion or a disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principles.

“We are pleased to be appointing a ‘Big Four’ accounting firm as our new auditors. The size, scope and reputation of EY reflects the significant growth Bio-Path has experienced over the past year and will serve to be a strong financial resource as we continue to build Bio-Path into a leading oncology company,” said Peter H. Nielsen, President and Chief Executive Officer of Bio-Path. “We thank BDO for its fine services over the past several years.”

About Bio-Path Holdings, Inc.

Bio-Path is a biotechnology company developing DNAbilize®, a novel technology that has yielded a pipeline of RNAi nanoparticle drugs that can be administered with a simple intravenous transfusion. Bio-Path’s lead product candidate, prexigebersen (BP1001, targeting the Grb2 protein), is in a Phase 2 study for the treatment of blood cancers and has filed an IND for a Phase 1 clinical trial for solid tumors. The Company’s second pipeline candidate is BP1002, which targets the Bcl-2 protein and is planned to be evaluated for the treatment of lymphoma and chronic lymphocytic leukemia. In addition, an IND application for BP1003, a novel liposome-incorporated STAT3 antisense oligodeoxynucleotide developed by Bio-Path as a specific inhibitor of STAT3, is expected to be filed in 2020.

For more information, please visit the Company's website at http://www.biopathholdings.com.