Guardion Health Sciences Announces Submission of Patent Application for Treatment of Certain Underlying Conditions Related to Eye Disease

Rhea-AI Summary

Guardion Health Sciences (Nasdaq: GHSI) announced the submission of a formal patent application for its proprietary formula, GlaucoCetin, aimed at providing nutritional support for eye disease management. This application follows a provisional submission from June 2019. The formula targets mitochondrial dysfunction, a factor in glaucoma-related vision loss. Additionally, Guardion has completed an $875,000 order for a nutraceutical product, Astramern, boosting its operating revenues for Q2 2020. The Company aims to expand its market presence in ocular health.

Positive

• Submitted patent application for GlaucoCetin, enhancing intellectual property.
• Targets mitochondrial dysfunction linked to glaucoma, offering a potential breakthrough in treatment.
• Completed an $875,000 order for Astramern, increasing operating revenue.

Negative

• None.

Patent Application Will Add to
Guardion’s Intellectual Property Portfolio

San Diego, California, July 08, 2020 (GLOBE NEWSWIRE) -- Guardion Health Sciences, Inc. (“Guardion” or the “Company”) (Nasdaq: GHSI), a specialty health sciences company that develops medical foods and medical devices in the ocular health marketplace and which is developing nutraceuticals it believes will provide medicinal and health benefits to consumers, announced that it has submitted a formal patent application to the U.S. Patent and Trademark Office seeking to protect its proprietary formula, currently marketed by Guardion as GlaucoCetin. GlaucoCetin provides nutritional support to help manage certain underlying conditions related to eye disease. The Company previously submitted a provisional patent to the U.S. Patent and Trademark Office on June 11, 2019.

The invention, “Compositions for Improved Neuroprotective Effects and Methods of Making Same,” relates to a nutritional formula designed to reverse mitochondrial dysfunction in nerve cells – mitochondrial dysfunction is now thought to be a contributing factor to vision loss in patients with glaucoma. Dr. Robert Ritch, M.D., the inventor of the formula, is a world-renowned glaucoma scientist and clinician and is a member of the Guardion Medical Advisory Board. Dr. Ritch holds the Shelley and Steven Einhorn Distinguished Chair in Ophthalmology and is Surgeon Director Emeritus and Chief of Glaucoma Services at the New York Eye & Ear Infirmary of Mount Sinai, New York City and Professor of Ophthalmology.

 “We are pleased to announce that we have filed this patent application to establish meaningful legal protection for this novel formula designed to manage a potential underlying cause of vision loss from eye disease,” said Dr. David Evans, Ph.D., Guardion’s Interim President and Chief Executive Officer. “GlaucoCetin joins Guardion’s other medical food, Lumega-Z^®, as a targeted nutritional therapy designed to assist patients in managing their health as they age, and offers an additional opportunity for Guardion to expand its market position in the nutrition industry, both in the United States and abroad.”

Also, as previously announced on June 30, 2020, Guardion has completed delivery of an $875,000 order for Astramern, its novel nutraceutical formulation designed to support the body’s immune function, to Astramune Sdn Bhd, a subsidiary of Ho Wah Genting Berhad (“HWGB”) (KLSE:9601), a Malaysian company listed on the Malaysian Stock Exchange (Industrial Products sector). Guardion will recognize this shipment in operating revenues for the three months ended June 30, 2020.

About Guardion Health Sciences, Inc.

Guardion is a specialty health sciences company (i) that develops medical foods and medical devices in the ocular health marketplace and (ii) that is developing nutraceuticals that the Company believes will provide medicinal and health benefits to consumers. Information and risk factors with respect to Guardion and its business, including its ability to successfully develop and commercialize its proprietary products and technologies, may be obtained in the Company’s filings with the SEC at www.sec.gov.

About NutriGuard™

NutriGuard™ formulates high-quality nutraceuticals which are designed to supplement consumers’ diets. NutriGuard uses industry standards to establish the safety and efficacy of the products it develops and markets, maintains that commitment through prudent manufacturing and quality assurance programs, and only uses manufacturers who comply with FDA current Good Manufacturing Practices (cGMP) requirements. Guardion plans to increase NutriGuard’s existing customer base and build on its product platform by making NutriGuard products available to patients directly and through recommendations by their physicians.

About VectorVision^®

VectorVision^® specializes in the standardization of contrast sensitivity, glare sensitivity, low contrast acuity, and ETDRS acuity vision testing. Its patented standardization system provides the practitioner or researcher the ability to delineate very small changes in visual capability, either as compared to the population or from visit to visit. VectorVision’s^® patented technology is considered the standard of care for clinical trials. VectorVision^® is a wholly owned subsidiary of Guardion.

Forward-Looking Statement Disclaimer

With the exception of the historical information contained in this news release, the matters described herein may contain 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, as amended. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements involve unknown risks and uncertainties that may individually or materially impact the matters discussed herein for a variety of reasons that are outside the control of the Company, including, but not limited to, the Company’s ability to raise sufficient financing to implement its business plan, the impact of the COVID-19 pandemic on the Company’s business, operations and the economy in general, and the Company’s ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward- looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company’s filings with the SEC, which are available at the SEC’s website (www.sec.gov). The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Relations Contact:

Porter, LeVay & Rose, Inc.

Michael Porter
Telephone:(212) 564-4700
E-mail: mike@plrinvest.com

FAQ

What is GlaucoCetin and how does it relate to GHSI's business?

GlaucoCetin is a proprietary formula developed by Guardion Health Sciences to provide nutritional support for managing conditions related to eye disease, particularly targeting mitochondrial dysfunction linked to glaucoma.

When did Guardion Health Sciences submit the patent application for GlaucoCetin?

Guardion submitted the patent application on July 8, 2020, following a provisional application made on June 11, 2019.

What financial impact does the $875,000 order for Astramern have on GHSI?

The $875,000 order for Astramern will be recognized in Guardion's operating revenues for the three-month period ended June 30, 2020, strengthening its financial position.

How does Guardion plan to expand its market position with GlaucoCetin?

Guardion aims to establish legal protection for GlaucoCetin and expand its market presence by promoting its nutritional therapies in the ocular health sector.