Marvel Biosciences Announces Notice of Allowance of Composition of Matter Patent for Its Lead Molecule MB-204 in China

Rhea-AI Summary

Marvel Biosciences (TSXV: MRVL, OTCQB: MBCOF) has received a notice of allowance from the Chinese patent office for its lead compound MB-204, marking the first worldwide allowance for this patent family. MB-204 is a novel fluorinated derivative of Istradefylline, an approved Parkinson's drug, which Marvel is developing for neurological conditions including autism, depression, and Alzheimer's Disease.

The company has completed cGMP synthesis and 4-week GLP toxicology studies for MB-204 and is preparing for clinical trials. This patent allowance secures key composition of matter intellectual property protection in China, with the company anticipating similar notices from other countries.

Positive

• Secured first patent allowance for MB-204 in China
• Completed cGMP synthesis and 4-week GLP toxicology studies
• Advancing toward clinical trials phase
• Potential applications in multiple neurological conditions

Negative

• None.

Calgary, Alberta--(Newsfile Corp. - January 16, 2025) - Marvel Biosciences Corp. (TSXV: MRVL) (OTCQB: MBCOF), and its wholly owned subsidiary, Marvel Biotechnology Inc. (collectively the "Company" or "Marvel"), today is pleased to announce that the Chinese patent office has issued a notice of allowance for its lead compound MB-204. This is the first allowance worldwide for this family.

"We are pleased with this allowance of claims to secure key composition of matter intellectual property protection for MB-204, and anticipate additional such notices for other countries," commented Rod Matheson, CEO of Marvel Biosciences. "MB-204 is a novel fluorinated derivative of the approved Parkinson's drug Istradefylline, which we are developing for other neurological diseases such as autism, depression and Alzheimer's Disease."

Marvel is preparing to move MB-204 to clinic, having completed cGMP synthesis and 4-week GLP toxicology studies.

About Marvel Biosciences Corp.

Marvel Biosciences Corp., and its wholly owned subsidiary, Marvel Biotechnology Inc., is a Calgary-based pre-clinical stage pharmaceutical development biotechnology company that utilizes a "drug redevelopment" approach to drug development. Historically, when a new class of drug is developed, it is optimized for a particular target, but typically only approved for a specific disease. Often, a new disease is identified which involves the same target, however, pending the remaining patent life, the originally approved drug may not have sufficient time left for it to be commercially viable to be developed for the new disease indication. Marvel develops new synthetic chemical derivatives of the original approved drug for the new disease indication. Patent protection is sought, as the new potential asset is developed by the Company. The Company believes the business model results in significantly less risk, cost and time to develop its assets compared to traditional biotechnology companies.

Marvel Biotechnology Inc. has currently developed several new chemical entities, using synthetic chemical derivatives of known, off-patent drugs, that inhibit the A2a adenosine receptor with application to neurological diseases (depression & anxiety, Alzheimer's, ADHD), and the non-neurological conditions of cancer and non-alcoholic steatohepatitis. Marvel is also exploring additional undisclosed targets to expand its asset pipeline.

Contact Information

Marvel Biosciences Corp.
J. Roderick (Rod) Matheson, Chief Executive Officer or
Dr. Mark Williams, President and Chief Science Officer
Tel: 403 770 2469

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

All information contained in this news release with respect to the Company and its subsidiary, (collectively, the "Parties") were supplied by Marvel, respectively, for inclusion herein and each parties' directors and officers have relied on each other for any information concerning such Party.

This news release may contain forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of the Company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the expectations of the Company and include other risks detailed from time to time in the filings made by the Company under securities regulations.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, the Company cannot guarantee that the above events on the terms will occur and within the time disclosed herein or at all. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237199

FAQ

What is the significance of Marvel Biosciences' (MBCOF) patent allowance in China for MB-204?

The Chinese patent allowance is significant as it's the first worldwide patent protection for MB-204, securing key composition of matter intellectual property rights in China for this novel drug compound.

What medical conditions is Marvel Biosciences' (MBCOF) MB-204 being developed to treat?

MB-204 is being developed to treat several neurological conditions including autism, depression, and Alzheimer's Disease.

What stage of development is Marvel Biosciences' (MBCOF) MB-204 currently in?

MB-204 has completed cGMP synthesis and 4-week GLP toxicology studies, and the company is preparing to move into clinical trials.

How does Marvel Biosciences' (MBCOF) MB-204 relate to Istradefylline?

MB-204 is a novel fluorinated derivative of Istradefylline, which is an approved Parkinson's drug.