Probiodrug reports full year 2014 financial results
Probiodrug to Present at Drug Design & Medicinal Chemistry Conference 2015
Patent grants strengthen IP position in Japan and follow issuance and grants in other important markets such as USA and Europe
HALLE/SAALE, Germany, 23 April 2015 – Probiodrug AG (Euronext Amsterdam: PBD), a biopharmaceutical company developing novel therapeutic solutions to treat Alzheimer’s disease (AD), today announced that, during Q1 2015, the Japan Patent Office granted a number of important patents to the company. These are Japanese Patent nos. JP 5690463 (Use of inhibitors of glutaminyl cyclases for the treatment of Alzheimer’s disease), JP 5677297 (Glutaminyl cyclase as a diagnostic/prognostic indicator for neurodegenerative diseases) and JP 5688745 (Heterocyclic inhibitors of glutaminyl cyclase, covering chemical space). In addition, a Notice of Allowance was released for Japanese patent application no. P2007-508347A (Use of inhibitors of glutaminyl cyclases for the treatment of Familial British Dementia and Familial Danish Dementia).
These grants strengthen Probiodrug’s position in Japan; a key territory for developing and commercializing drugs for Alzheimer’s disease. The JP 5690463, P2007-508347A and JP 5688745 grants in Japan follow other key markets where these patents are already issued or granted, including the USA and Europe. For JP 5677297, Probiodrug also has patent applications pending in a number of other jurisdictions, including the USA and Europe.
Hans-Ulrich Demuth, co-founder and former CSO of Probiodrug and a key inventor, commented: “These patent grants, together with the already granted and issued patents, document the novelty of Probiodrug’s QC approach and acknowledge the high-calibre science performed at Probiodrug.”
Hendrik Liebers, CFO of Probiodrug, added: “The patent portfolio of Probiodrug, with issued and granted medical use and composition of matter patents for the treatment of Alzheimer’s disease by preventing pGlu-Abeta formation, provides Probiodrug a leading position in the field. In particular, any development and treatment attempts via QC inhibition in the field of Alzheimer’s disease will fall under Probiodrug’s broad, world-wide medical use patents.”
Probiodrug previously achieved a number of medical use patents in connection with the development and commercialization of a novel antidiabetic class, the DP4 inhibitors. The basic medical use patents, now in the hands of Royalty Pharma, were originally filed by Probiodrug and are generating substantial revenues through licenses from the sales of this class of antidiabetics.
For more information, please contact:
Dr Konrad Glund, CEO
Mary Clark, Supriya Mathur, Hollie Vile
Tel: +44 (0) 203 440 5653
Notes to Editors:
About Probiodrug AG
Headquartered in Halle, Germany, Probiodrug AG is a biopharmaceutical company focused on the development of new therapeutic products for the treatment of Alzheimer’s disease.
Founded in 1997, the company successfully developed a novel therapeutic concept for diabetes – the DP4 inhibitors – which provided the basis for a novel class of antidiabetics – the gliptins. Its core capabilities are based on its long-standing expertise in the elucidation of the structure and function of enzymes involved in the modification of proteins and peptides, which play a central role in pathological conditions.
Today Probiodrug’s aim is to become a leading company in the development of Alzheimer’s disease treatments and to thereby provide a better life for Alzheimer’s disease patients. It has identified a new therapeutic concept linked to disease initiation and progression. The development approaches are targeting pyroglutamate-Abeta (pGlu-Abeta) as a therapeutic strategy to fight Alzheimer’s disease. The Company has medical use and composition of matter patents related to the inhibition of Glutaminyl Cyclase (QC) and anti-pGlu-Abeta- specific monoclonal antibodies, providing it, in the Company’s view, with a leading position in this field of research. www.probiodrug.de
About Alzheimer’s disease
Alzheimer’s disease is a neurological disorder, which is the most common form of dementia, and ultimately leads to death. Because Alzheimer’s disease cannot be cured and is degenerative, the affected patients must increasingly rely on others for assistance. Today, 44 million people worldwide currently live with the condition and this number is expected to almost double by 2030 and to more than triple by 2050 to over 132 million. Alzheimer’s also has an estimated, global societal cost of over $600 billion (World Alzheimer Report 2014).
Forward Looking Statements
Information set forth in this press release contains forward-looking statements, which involve a number of risks and uncertainties. The forward-looking statements contained herein represent the judgment of Probiodrug AG as of the date of this press release. Such forward-looking statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based.