YONKERS, NY, May 20, 2022 (GLOBE NEWSWIRE) — ContraFect Corporation (CFRX) (ContraFet)a late-stage clinical-stage biotechnology company focused on the discovery and development of direct lytic agents (DLAs), including lysines and amurine peptides, as new medical modalities for the treatment of life-threatening and resistant infections to antibiotics, today announced that on May 16, 2022, the Company’s Board of Directors Compensation Committee approved the grant of incentive stock options to purchase a total of 15 000 ordinary shares to two new non-executive employees.

The awards were granted under the 2021 Employment Inducation Omnibus Incentive Plan (2021 Inducation Plan), which was adopted on September 14, 2021 and provides for the award of equity awards to new ContraFect employees. The stock options granted have a term of ten years and an exercise price of $3.20 per share, which is equal to the closing price of ContraFect common stock on the Nasdaq Capital Market on May 16. 2022. Each option will vest over a period of four years. period, with 25% of the shares vesting after 12 months and the remaining shares vesting quarterly over the following 36 months, subject to each employee’s continuous service with the Company on those vesting dates. The options are subject to the terms and conditions of the 2021 Incentive Plan and the terms and conditions of a stock option agreement covering the grant. The awards were granted as incentive materials to new employees entering employment with ContraFect, pursuant to Nasdaq listing rule 5635(c)(4).

About ContraFect:

ContraFect is a biotechnology company focused on the discovery and development of DLA, including lysines and amurine peptides, as new medical modalities for the treatment of life-threatening, antibiotic-resistant infections. It is estimated that 700,000 deaths worldwide each year are attributed to antimicrobial resistant infections. We intend to treat life-threatening infections using our therapeutic product candidates from our DLA platform, which include lysines and amurine peptides. Lysines are a novel class of DLAs that are recombinantly produced antimicrobial proteins with a novel mechanism of action associated with rapid killing of target bacteria, eradication of biofilms, and synergy with conventional antibiotics. Amurine peptides are a novel class of DLAs that exhibit broad-spectrum activity against a wide range of antibiotic-resistant Gram-negative pathogens, including P. aeruginosa, Acinetobacter baumanniiand Enterobacter species. We believe that the properties of our lysines and amurine peptides will make them suitable for targeting antibiotic resistant organisms, such as MRSA and highly resistant strains of P. aeruginosa, which can cause serious infections such as bacteremia, pneumonia and osteomyelitis. We have completed a Phase 2 clinical trial for the treatment of Golden Staph bacteremia, including endocarditis, with our lead lysine candidate, exebacase, which is the first lysine to enter clinical studies in the United States. treatment of MRSA bacteraemia, including right endocarditis, when used in addition to SOC anti-staphylococcal antibiotics.

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Exebacase-related activities during the contract period will be funded in part by federal funds from HHS; ASPR; BARDA, under contract number 75A501212C00021.

Forward-looking statements

This press release contains, and our officers and representatives may make from time to time, “forward-looking statements” within the meaning of the United States federal securities laws. Forward-looking statements can be identified by words such as “projects”, “may”, “will”, “could”, “would”, “should”, “believe”, “expect”, “anticipate”, “estimates,” “intends,” “expects,” “potential,” “promises,” or similar references to future periods. Examples of forward-looking statements in this release include, but are not limited to, statements regarding: ContraFect’s ability to discover and develop DLAs as new medical modalities for the treatment of life-threatening and antibiotic-resistant infections, grants awarded under the 2021 incentive plan, whether ContraFect will treat life-threatening infections using therapeutic candidates from its DLA platform, whether exebacase has the potential to be a first-in-class treatment for Golden Staph bacteremia, if lysines are a new class of recombinantly produced DLA, antimicrobial proteins with a novel mechanism of action associated with rapid killing of target bacteria, eradication of biofilms and synergy with conventional antibiotics, if amurines are a new class of DLAs that exhibit broad-spectrum activity against a wide range of antibiotic-resistant Gram-negative pathogens, and whether the properties of ContraFect’s lysines and amurines will make them suitable for targeting antibiotic-resistant organisms, such as MRSA and P. aeruginosa. Forward-looking statements are statements that are not historical facts or guarantees of future performance. Instead, they are based on ContraFect’s current beliefs, expectations and assumptions regarding the future of its business, future plans, strategies, projections, expected events and trends, the economy and other conditions. future. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and changes in circumstances that are difficult to predict and many of which are beyond ContraFect’s control, including the occurrence of any event adverse events related to the discovery, development, and commercialization of ContraFect’s product candidates such as adverse clinical trial results, insufficient pharmaceutical supplies, lack of regulatory approval, or failure to obtain or the maintenance of patent protection and other important risks detailed under the heading “Risk Factors” in the documents filed by ContraFect with the Commission de Sécurité et d’Échanges. Actual results may differ from those set forth in forward-looking statements. Important factors that could cause actual results to differ include, among others, our ability to develop treatments for drug-resistant infectious diseases. Any forward-looking statement made by ContraFect in this press release is based solely on information currently available and speaks only as of the date on which it is made. Except as required by applicable law, ContraFect expressly disclaims any obligation to publicly update any forward-looking statements, written or oral, which may be made from time to time, whether as a result of new information, future developments or other.

Investor Relations Contacts:

Michael Messinger
ContraFect Corporation
Tel: 914-207-2300
E-mail: [email protected]