News about allowance of additional patent coverage out today. I'd love to see another press release on the PET tests tomorrow.
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NEOT
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Tuesday October 12, 9:31 am Eastern Time
Company Press Release
SOURCE: NeoTherapeutics, Inc.
NeoTherapeutics Receives Notice of Allowance for Additional Patent on Its Platform Technology Involving Nerve Regeneration
IRVINE, Calif., Oct. 12 /PRNewswire/ -- NeoTherapeutics, Inc. (Nasdaq: NEOT - news, NEOTW - news) announced today that it has received a Notice of Allowance from the United States Patent and Trademark Office covering a method for controlling the expression of genes to produce neurotrophic growth factors which stimulate nerve cell growth in the body.
''Induction of neurotrophic growth factors to stimulate sprouting of nerves is an important step in functional regeneration of neurons after injury or aging,'' commented Dr. Alvin Glasky, Chairman, CEO and Chief Scientific Officer of NeoTherapeutics and inventor of the patent. ''Allowance of this patent strengthens NeoTherapeutics' proprietary position in the field of nerve regeneration. The ability to administer an orally active drug to patients to repair and regenerate nerve cells in the brain and spinal cord is a fundamental breakthrough in the treatment of neurological and neurodegenerative diseases,'' he added.
Previously, the United States Patent and Trademark Office granted NeoTherapeutics three patents covering the Company's technology platform, which includes NeoTherapeutics' lead drug candidate, NEOTROFIN(TM). NeoTherapeutics has four additional patent applications pending in the U.S. as well as patent applications in development for additional technologies. NeoTherapeutics has also filed, and in some cases received, international patent applications corresponding to its U.S. patents to further expand its technology base.
NEOTROFIN(TM) is being developed for nerve repair and regeneration, with Alzheimer's disease as its first clinical indication. Pre-clinical studies have demonstrated that NEOTROFIN(TM) causes the production of multiple natural neurotrophic factors and restores function in animal models of cognitive decline, aging, brain injury, and spinal cord injury. Human clinical studies have demonstrated positive effects of NEOTROFIN(TM) on memory and behavioral function in patients with Alzheimer's disease.
NeoTherapeutics' research program is focused on designing and developing small molecules capable of promoting nerve regeneration and repair for a range of neurological diseases and conditions such as Alzheimer's and Parkinson's diseases, stroke, and spinal cord injury. Additional compounds in NeoTherapeutics' product pipeline address other health issues such as migraine and depression. For additional Company information, visit the NeoTherapeutics web site at www.neotherapeutics.com.
This press release contains forward-looking statements regarding future events and the future performance of NeoTherapeutics that involve risks and uncertainties that could cause actual results to differ materially. These risks are described in further detail in the Company's reports filed with the Securities and Exchange Commission.
For further information, contact: Investment Community: Carol Gruetter of NeoTherapeutics, Inc., 949-788-6700, x 236, cgruetter@neotherapeutics.com; or Media: Kelly Finley of Halsted Communications, Inc., 800-600-7111 x 250 or 323-225-1835, kfinley@halsted.com.
SOURCE: NeoTherapeutics, Inc. |
