Follicum AB receives Notice of Allowance from the US Patent Office for the protection of the company's peptides developed for the treatment of diabetes and its related complications
Follicum AB ("Follicum") has received information that the United States Patent and Trademark Office (USPTO) has issued a Notice of Allowance of the US patent application 16/666,960. The patent application covers the company's peptides and their use for treatment of diabetes and diabetes-associated complications.
The application is directed to new peptides from the company's two peptide classes, and their use in the treatment of diabetes and its complications. Follicum has now received Notice of Allowance for this application. In short, a Notice of Allowance means that the patent office in question (the USPTO), intends to grant a patent application following the implementation of certain administrative measures by both parties. When the patent is finally granted, it can be kept in force until 2038.
CEO Jan Alenfall comments
"This Notice of Allowance of the patent demonstrates the uniqueness of our diabetes project and it lays the ground for commercialization opportunities in the US, one of the largest markets for diabetes medicines. The announcement from the US Patent Office is thus creating significant value for Follicum.”
Diabetes is rapidly increasing globally. The disease is characterized by poor blood sugar control due to defective insulin signaling, which causes serious sequelae such as cardiovascular disease, renal failure, obesity, blindness and diabetic foot ulcers. Diabetes as well as its accompanying illnesses represents a major burden, partly for the individual patient, but also for the entire health care system. There is thus an already large and growing global need for new therapies that address effective control of glucose levels in combination with preventive effects on the various diabetic complications.
For further information, please contact:
Jan Alenfall – CEO, Follicum AB
Telephone: +46 (0)709 31 51 15
This information is information that Follicum is obliged to make public according to the EU Market Abuse Regulation. The information was provided through the agency of the contact person above, for publication on the 22nd of June 2020.
About Follicum AB
Follicum AB (publ) develops drug candidates based on tissue reparing peptides with potential use in several therapeutic areas. The company’s primary candidate, FOL-005 for stimulating hair growth, is currently being evaluated in a phase IIa study in collaboration with internationally reputable specialist clinics. The company’s project in diabetes aims at protecting insulin producing cells against damage and thereby reducing the risk of complications. Based on promising preclinical results preparations for entering a phase I study is ongoing, which expects to be initiated in 2021. Both projects have the potential of becoming so called first-in-class drugs. For more information, please visit www.follicum.com.