Timber Pharmaceuticals Announces European Patent Office Intends to Grant Patent for BPX-01 and BPX-04
Timber Pharmaceuticals, Inc. (TMBR) announced it will receive a patent from the European Patent Office for its stable topical composition of pharmaceutical tetracycline, aimed at treating acne and rosacea. This patent enhances the company's dermatology portfolio and follows a merger with BioPharmX Corporation. The new patent supports Timber's focus on developing non-systemic treatments for rare dermatologic diseases. The company has also secured patent protection in the U.S. and South Africa. CEO John Koconis highlighted the composition's potential to minimize side effects compared to traditional oral treatments.
- Receipt of EPO patent for stable topical composition of pharmaceutical tetracycline enhances product portfolio.
- Merger with BioPharmX Corporation may lead to strategic partnerships and non-dilutive value creation.
- Existing patent protections in the U.S. and South Africa bolster the company's competitive position.
- None.
Stable topical composition has potential to reduce side effects of orally delivered compositions in treatment of acne and rosacea
WOODCLIFF LAKE, NJ, July 22, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Timber Pharmaceuticals, Inc. ("Timber" or the “Company”) (NYSE American: TMBR), a biopharmaceutical company focused on the development and commercialization of treatments for orphan dermatologic diseases, today announced that it has received notice from the European Patent Office (EPO) that it intends to grant a patent for the company’s topical composition of pharmaceutical tetracycline (including minocycline) for dermatological use (European Patent Application No. 16714168.8).
In May 2020, Timber announced the closing of a merger with BioPharmX Corporation and its intention to evaluate BioPharmX's Phase 3 ready proprietary topical programs in the treatment of inflammatory lesions of acne vulgaris and papulopustular rosacea for a strategic partnership, co-development or other non-dilutive value creation strategy. The new EPO patent will further protect these assets.
“Orally delivered compositions of tetracycline antibiotics have been used for decades for the treatment of dermatologic conditions including acne, but systemic delivery is accompanied by adverse side effects,” said John Koconis, chief executive officer of Timber. “Designing a stable topical composition with the potential to reduce those side effects has been an important challenge that required innovative approaches. We are pleased to add this EPO patent to our extensive dermatology portfolio.”
BioPharmX previously received patent protection for the topical composition of pharmaceutical tetracycline for dermatological use in the United States and South Africa. Certain claims related to this application have also recently been accepted in Australia.
About Timber Pharmaceuticals, Inc.
Timber Pharmaceuticals, Inc. is a biopharmaceutical company focused on the development and commercialization of treatments for orphan dermatologic diseases. The Company's investigational therapies have proven mechanisms-of-action backed by decades of clinical experience and well-established CMC (chemistry, manufacturing and control) and safety profiles. The Company is initially focused on developing non-systemic treatments for rare dermatologic diseases including congenital ichthyosis (CI), facial angiofibromas (FAs) in tuberous sclerosis complex (TSC), and localized scleroderma. For more information, visit https://www.timberpharma.com/.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and Private Securities Litigation Reform Act, as amended, including those relating to the Company's product development, clinical and regulatory timelines, market opportunity, competitive position, possible or assumed future results of operations, business strategies, potential growth opportunities and other statements that are predictive in nature. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management's current beliefs and assumptions.
These statements may be identified by the use of forward-looking expressions, including, but not limited to, "expect," "anticipate," "intend," "plan," "believe," "estimate," "potential, "predict," "project," "should," "would" and similar expressions and the negatives of those terms. These statements relate to future events or our financial performance and involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include those set forth in the Company's filings with the Securities and Exchange Commission. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
For more information, contact:
Timber Pharmaceuticals, Inc.
John Koconis
Chief Executive Officer
jkoconis@timberpharma.com
Investor Relations:
Stephanie Prince
PCG Advisory
(646) 762-4518
sprince@pcgadvisory.com
Media Relations:
Adam Daley
Berry & Company Public Relations
(212) 253-8881
adaley@berrypr.com
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