Follicum receives patent grant in Europe - broadened protection for lead candidate FOL-005
Follicum has received an official grant of patent from the European Patent Office, EPO regarding the company's broadened patent application for stimulation of hair growth. The official grant follows the "Intention to Grant" which was communicated on November 21, 2018.
With EPO's grant of patent no. EP 3087999 B1, there is now broad protection for Follicum's peptides in Europe until 2032. The patent that protects the company's peptides generally as a product, and for the stimulation of hair growth specifically, is a broadening of the previously granted, first patent on FOL-005. The patent covers the drug candidate FOL-005 and related substances. As previously communicated, Follicum has also filed a patent application for a new formulation, something which can provide extended protection for FOL-005 for an additional 8 years.
Jan Alenfall, CEO comments:
“With this grant, we get a broader protection for our lead candidate. Europe is a very important market and the official grant is of great importance to us. Thanks to the patent, we can continue to run the hair project without the risk of competition. Follicum continues to work to broaden and extend its patent portfolio and this grant is welcome news.”
Undesirable hair loss (alopecia), commonly referred to as "baldness", affects about one third of all men between the ages of 20 and 50 in the western world. For men over 50 years, the proportion of hair loss is even higher, about 50%. Furthermore, a significant proportion of women also suffer from unwanted hair loss. All in all, this translates into a very significant market for an effective and safe hair-stimulating drug. Today, there are basically only two drug substances used for treatment. Sales of these drugs amount to more than USD 3 billion annually. Compared to existing preparations, FOL-005 can probably offer several benefits - for example, fewer side effects, easier dosing and a higher proportion of responders.
FOL-005 is a modified short version of the endogenous protein, osteopontin. In two completed clinical studies, FOL-005 proved to be an effective and safe treatment. Already after three months of treatment, a clear effect on hair growth could be demonstrated. In these studies, patients have been treated with injections three times a week. As the next step, the company will prepare a clinical efficacy study with a topical formulation of FOL-005 where the dose, dosing frequency and treatment time will be optimized. In parallel, the company will focus on finding a suitable partner for further development of FOL-005.
For further information, please contact:
Jan Alenfall – CEO, Follicum AB
Telephone: +46 46 19 21 97
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 persons above, for publication on May 8th, 2019.
About Follicum AB
Follicum is a biotech company focusing on the discovery and development of peptide-based drugs. The primary focus is in hair growth stimulation, where Follicum has obtained very promising results with FOL-005 in a recently completed clinical trial. In diabetes, Follicums research has resulted in a new peptide class which significantly increases the release of insulin in pre-clinical models. The company was founded in 2011, and is based in Lund, Sweden. Follicum is listed on the Swedish small cap exchange Spotlight since 2014. www.follicum.com. www.follicum.com