Conduit Pharmaceuticals Receives Patent Approval For Its Lead Asset Targeting Autoimmune Diseases
Conduit Pharmaceuticals (Nasdaq: CDT) has received approval for a composition of matter patent from IP Australia for its lead asset, an HK-4 Glucokinase Activator targeting autoimmune diseases. The company is enrolled in the Patent Prosecution Highway (PPH) program, which may fast-track patent approvals in major markets like the U.S., Europe, and Japan. The patent, valid for up to 20 years, covers cocrystals of AZD1656, identified through innovative solid-form technology.
This approval enhances Conduit's intellectual property portfolio and strengthens its position for future out-licensing opportunities. The cocrystal patents are classified as 'drug substance' patents in the FDA's Orange Book, adding significant value to the company's assets. Dr. David Tapolczay, CEO, emphasized that this approval validates their R&D capabilities and optimizes their IP portfolio's value.
- Approval of composition of matter patent for lead asset in Australia
- Potential for fast-track patent approvals in major markets through PPH program
- Up to 20 years of patent protection secured
- Enhanced intellectual property portfolio and strengthened position for out-licensing opportunities
- Classification as 'drug substance' patents in FDA's Orange Book
- None.
The approval of the composition of matter patent for Conduit Pharmaceuticals' lead asset targeting autoimmune diseases is an important milestone. Patents provide exclusivity rights, preventing competitors from using the patented technology without permission. This specific patent approval in Australia is a positive indicator for subsequent approvals in other major markets like the U.S., Europe and Japan due to the Patent Prosecution Highway (PPH) program, which expedites patent review processes.
From an intellectual property standpoint, the establishment of a solid-form technology through the identification of cocrystals is noteworthy. Cocrystals can enhance the physical and chemical properties of a drug, improving its stability, solubility and bioavailability. This can potentially make the drug more effective and easier to manufacture, which enhances its overall market value.
The patent's classification as a 'drug substance' in the FDA’s Orange Book further secures its commercial potential. 'Drug substance' patents are highly valued as they provide a stronger protection for the active ingredient of a drug.
For investors, this patent approval strengthens Conduit Pharmaceuticals' market position by enhancing its intellectual property portfolio, which in turn increases its potential for lucrative out-licensing deals and partnerships in the future.
Conduit Pharmaceuticals' recent patent approval for its HK-4 Glucokinase Activator targeting autoimmune diseases is significant from a market perspective. Autoimmune diseases represent a substantial segment of the pharmaceutical market, with a rising incidence worldwide driving the demand for effective treatments. The potential for this lead asset to address a broad range of these conditions positions Conduit strategically to capture a significant market share.
The approval is expected to have a positive impact on the company's market valuation. Investors often view successful patent approvals as a validation of a company's R&D capabilities and future growth prospects. This can lead to increased investor confidence and potentially drive up the company's stock price in the short term.
Furthermore, by securing up to 20 years of patent protection, Conduit Pharmaceuticals is ensuring a prolonged period during which it can exclusively market or license its innovation, maximizing revenue potential. This long-term protection is especially valuable for investors as it implies sustained profitability over an extended period.
Overall, this patent approval enhances the company’s competitive edge and positions it well for future expansion and revenue generation.
The patent approval for Conduit Pharmaceuticals' HK-4 Glucokinase Activator brings substantial promise from a medical research perspective. Autoimmune diseases are complex and varied and having a drug that targets a broad spectrum of these conditions could be a game-changer. The innovative use of cocrystals in the formulation of this drug suggests potential improvements in drug delivery and efficacy.
Understanding cocrystals is key here. Cocrystals involve the formation of a crystalline structure comprising the active pharmaceutical ingredient and one or more co-formers. This can enhance the drug's solubility and stability, which are critical factors in the drug's effectiveness and patient compliance.
Moreover, the patent's classification as a 'drug substance' indicates that the core pharmacological properties of the drug are protected, ensuring that the fundamental innovations in its design are secured from replication by competitors. This fosters a conducive environment for further research and development, enabling Conduit Pharmaceuticals to continue innovating and potentially expanding the therapeutic applications of their lead asset.
Ultimately, for investors, the research prospects and reinforced IP position suggest sustained advancements and potential breakthroughs in autoimmune disease treatment, underscoring a long-term investment potential.
Composition of matter patent approval underscores the Company’s solid-form technology to maximize future value and ability to strengthen and broaden its intellectual property portfolio
SAN DIEGO and LONDON, July 16, 2024 (GLOBE NEWSWIRE) -- Conduit Pharmaceuticals Inc. (Nasdaq: CDT) ("Conduit Pharmaceuticals" or "Conduit" or the “Company”) today announced the approval of a composition of matter patent application by IP Australia, achieving successful examination of a patent on its lead asset, an HK-4 Glucokinase Activator which targets a wide range of autoimmune diseases.
The Company is enrolled to participate in the Patent Prosecution Highway (PPH), a program to fast-track patent examination in major jurisdictions including the U.S., Europe and Japan. Since IP Australia has allowed patent application 2022384750, Conduit believes it is more likely to receive subsequent approvals in other markets. Patents in these major countries are the most sought after and valuable patents for marketed drug products, providing up to 20 years of patent protection.
Through innovative solid-form technology, Conduit’s R&D team identified cocrystals of its lead asset, AZD1656, a HK-4 Glucokinase Activator which offers promising solutions across a broad range of autoimmune conditions. “Cocrystals are by their very nature unexpected. Creating these cocrystals and obtaining meaningful patent protection for them, highlight the expertise and strategic effectiveness of Conduit's science and approach to drug products,” according to Jeffrey A. Lindeman, Ph.D., the Company’s consultant on cocrystal intellectual property. Cocrystal patents are classified as “drug substance” patents in the U.S. Food and Drug Administration’s (FDA) Orange Book. The patents not only enhance Conduit's Intellectual Property assets but also serve to maximize the Company's potential for future out-licensing opportunities, reinforcing the strategic value of cocrystal patents in the pharmaceutical landscape.
“The approval of the composition of matter patent in Australia for our lead asset augments our commitment to optimizing the value of our intellectual property portfolio,” said Dr. David Tapolczay, Chief Executive Officer. “With up to 20 years of patent protection and drug substance classification secured, this patent not only validates the robustness of our internal R&D capabilities but also significantly strengthen our position for future out-licensing opportunities.”
About Conduit Pharmaceuticals
Conduit Pharmaceuticals (Nasdaq: CDT) have developed a unique business model to bring medicines to patients. Its novel approach addresses unmet medical need and lengthens the intellectual property for its existing assets through cutting-edge solid-form technology and then commercializes these products with life science companies. Conduit is led by a highly experienced team of pharmaceutical executives, including CEO, Dr. David Tapolczay, former Chief Executive Officer of UK-based medical research charity LifeArc; and the Chair of our Board, Dr. Freda Lewis-Hall, former Chief Medical Officer of Pfizer, Inc. Our Phase II ready pipeline, which consists of a HK4 Glucokinase Activator targeting auto-immune diseases that has undergone 20+ clinical trials in over 1,000 patients, and an MPO Inhibitor which we believe has the potential to treat Idiopathic Male Infertility.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws. All statements other than statements of historical facts contained in this press release, including statements regarding Conduit's future results of operations and financial position, Conduit's business strategy, prospective product candidates, product approvals, research and development costs, timing and likelihood of success, plans and objectives of management for future operations, future results of current and anticipated studies and business endeavours with third parties, and future results of current and anticipated product candidates, are forward-looking statements. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to; the inability to maintain the listing of Conduit's securities on Nasdaq; the ability to recognize the anticipated benefits of the business combination completed in September 2023, which may be affected by, among other things, competition; the ability of the combined company to grow and manage growth economically and hire and retain key employees; the risks that Conduit's product candidates in development fail clinical trials or are not approved by the U.S. Food and Drug Administration or other applicable authorities on a timely basis or at all; changes in applicable laws or regulations; the possibility that Conduit may be adversely affected by other economic, business, and/or competitive factors; and other risks as identified in filings made by Conduit with the U.S. Securities and Exchange Commission. Moreover, Conduit operates in a very competitive and rapidly changing environment. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond Conduit's control, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and except as required by law, Conduit assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Conduit gives no assurance that it will achieve its expectations.
Investors:
Bill Begien
Conduit Pharmaceuticals Inc.
bb@conduitpharma.com
FAQ
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