GNBT,
First Metformin Gum Patent Granted to Generex Biotechnology
Tuesday November 14, 9:45 am ET
TORONTO--(MARKET WIRE)--Nov 14, 2006 -- Generex Biotechnology Corporation (GNBT - News), the leader in drug delivery for metabolic diseases through the inner lining of the mouth, announced today that it has been granted the first patent for its medicinal gum platform titled "Compositions for Oral Transmucosal Delivery of Metformin." The patent covers claims to the composition, processes, and methodologies for the delivery of an oral transmucosal metformin composition via the oral mucosal membrane for absorption.
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This patent was issued by the Lebanese Ministry of National Economy Intellectual Property Protection Office. As a consequence of Lebanon's accession to the international Patent Co-operation Treaty, this patent will open the door to further filings in the other PCT signatory countries.
Metformin is a generic drug used to regulate blood glucose (sugar) levels by reducing the amount of glucose produced by the liver, and by making the insulin produced by the body work more effectively to reduce the amount of glucose already in the blood. Metformin has been in use around the world for more than 30 years. It remains the most prescribed drug for Type-2 diabetes, a testimony to its efficacy and its prominent place in diabetes therapy. The total US market sales of all forms of metformin are approximately $1.8 Billion (IMS-MAT: December 2003).
The patent relates to an oral transmucosal metformin composition comprising a pharmaceutically acceptable carrier being capable of delivering a pharmaceutically effective amount of metformin to the oral mucosal membrane for absorption.
"We are very pleased to receive the first patent for our metformin gum product, a product that complements our flagship product, Generex Oral-lyn(TM), and related diabetes pipeline," said Rose C. Perri, the Generex Chief Operating Officer.
The Company currently holds an aggregate of 80 patents worldwide (20 of which are United States Patents) and has an aggregate of 60 patent applications pending in various jurisdictions |
