Connectyx Announces Grant of Exclusive Worldwide License from National Institutes of Health for Repurposing Metformin to Treat Degenerative Eye Disease
Connectyx Technologies Holdings Group (CTYX) has entered an Exclusive Patent License Agreement with the National Eye Institute (NEI) to utilize patented inventions for treating Retinal Degeneration (RD) with Metformin. The agreement covers U.S. provisional and international patent applications, allowing worldwide license rights. Metformin, an FDA-approved diabetes medication, will be reformulated for ophthalmic use targeting conditions like Stargardt disease, affecting children. The company aims to begin human testing by Q3 2022, marking a significant step towards addressing unmet medical needs in rare eye diseases.
- Exclusive Patent License Agreement with NEI for Metformin use in retinal degeneration.
- Targeting Stargardt disease as the first indication for treatment.
- Plans to begin human testing of the reformulated Metformin by Q3 2022.
- CTYX is currently not generating any revenues.
- The company faces inherent risks and uncertainties in product market acceptance.
Boca Raton, FL, Feb. 04, 2021 (GLOBE NEWSWIRE) -- Connectyx Technologies Holdings Group, Inc. (OTC: CTYX) (“Connectyx” or the “Company”), a development-stage biomedical company focusing on novel treatments for rare diseases today announced it has entered into an Exclusive Patent License Agreement to practice inventions contained within the patent applications listed below with the National Eye Institute (NEI), of the National Institutes of Health (NIH), including the repurposed use of Metformin to treat Retinal Degeneration (RD).
The license patent rights include U.S. provisional patent application No. 62/899,899 and entitled, “Druggable Targets to Treat Retinal Degeneration” filed September 13, 2019 (E-227-2017-US-01); International Patent Application No.: PCT/US2020/050540 and entitled, “Druggable Targets to Treat Retinal Degeneration” filed September 11, 2020 (E-227-2017-PCT-O2); and U.S. and foreign patent applications claiming priority to the applications. The territory for the exclusive license is worldwide.
The degeneration of the Retinal Pigment Epithelium (RPE) is associated with various types of RD such as Stargardt disease, retinitis pigmentosa, choroideremia, late-onset retinal degeneration (L-ORD), and age-related macular degeneration (AMD). In the United States, 11 million people are affected by some form of AMD.
Research has shown that Metformin, an FDA-approved drug that has been widely used for the treatment of diabetes in the United States since 1995, can activate AMP-activated protein kinase, can reduce vascular endothelial growth factor (VEGF) secretion, and can correct baseline calcium levels in patient RPE cells. The new treatment indications will require reformulating the drug into an eye drop, injectable or other topical delivery method to be able to deliver sufficient drug to the RPE layer to have a therapeutic effect. This reformulated drug should be eligible for a 505(b)(2) accelerated development path. While the field of use covers treating any degenerative eye disease, the Company is targeting Stargardt, a currently untreatable orphan disease that causes vision loss in children, as the first indication for this therapeutic product.
Paul Michaels, Chairman and President of Connectyx, said, “We are pleased to expand our product portfolio with the addition of reformulated and repurposed Metformin, which is the fifth most prescribed drug in the United States. This very promising product adds a second in licensed product from the NIH to our development portfolio. As stated above, we believe our Metformin reformulation may show efficacy in treating a wide range of RD diseases that cause vision loss. We are focused on developing disease modifying therapeutics to meet the unmet needs of patients. The Company anticipates being prepared for human testing of this reformulation by third quarter of 2022.”
About Age-Related Macular Degeneration, Stargardt Disease, Retinitis Pigmentosa and Choroideremia
AMD is the leading cause of vision loss in people ages 60+. It destroys a patient’s sharp, central vision. Stargardt disease is a type of AMD that causes vision loss in children or young adults. Retinitis pigmentosa is a genetic disorder which leads to a gradual loss of sight, causing a deterioration of night vision and peripheral vision. Choroideremia is a hereditary retinal degeneration that causes a gradual loss of vision. It starts in early childhood with night blindness, then follows with peripheral vision loss and eventually progresses to the loss of central vision. Diabetic retinopathy is the leading cause of blindness in adults. Diabetes harms blood vessels inside the eye by weakening them so they leak fluid into the retina, which can damage areas of the retina, causing blurry, distorted vision.
About Connectyx Technologies Holdings Group, Inc. http://connectyx.com/
Connectyx is a development-stage biomedical company focusing on novel treatments for rare diseases. In November, the Company announced it is changing its name to Curative Biotechnology, Inc. and has applied for the name change and a trading symbol (CURB) with the Financial Industry Regulatory Authority, Inc., which should take effect in the first quarter of 2021. The Company expects to rename itself as Curative Biotech. Connectyx is focused on therapies with potentially accelerated development paths as a result of either the disease, the nature of the therapeutic itself, or the stage of clinical development. At the heart of the Company is a product development engine that rests on our unique S.O.A.R. filter (Science, Opportunity, Acceleration, Rare Disease.) At Connectyx, we envision a world where all patients have a therapeutic option.
About the National Eye Institute (NEI)
NEI leads the federal government’s research on the visual system and eye diseases. NEI supports basic and clinical science programs to develop sight-saving treatments and address special needs of people with vision loss. For more information, visit https://www.nei.nih.gov.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. CTYX is not yet generating revenues. Although forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subjected to known, unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements, including but not limited our ability to generate sufficient market acceptance for our products and services, our ability to generate sufficient operating cash flow, and general economic conditions. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with OTC Markets from time to time which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
Contact:
Connectyx Technologies Holdings Group, Inc.
investorrelations@connectyx.com
Paul Michaels
561-418-7725
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