Karessa Pharma announces today that the company's license has been reinforced through patent granted in Europe
The European Patent Office (EPO) has issued a granted patent regarding patent application for the use and formulation of buccal films based on alginate. The grant of the patent with number 1976562 will be published by EPO's European Patent Bulletin on 21st of February 2018.
Karessa Pharma AB ("Karessa") develops effective pharmaceuticals for treatment of erectile dysfunction based on a patented buccal film technology with a matrix based on alginate. The Film patent, owned by Uppsalagruppen AB with an exclusive, eternal, royalty-free license to Karessa in the therapeutic area of erectile dysfunction, is now, with the grant from EPO approved in all major markets.
With the grant of the patent in Europe, Karessa's license in the area of erectile dysfunction has been reinforced. This recognizes Karessa's technical drug-delivery platform and an exclusive right for the company's products in all major and growing markets.
”EPO's decision is a proof that our technology is unique and allows us to develop, manufacture and sell impotence drugs with a fast and reliable uptake through the bloodstream”, says Michael Brobjer, CEO at Karessa.
The patent that is already approved in most markets in the world is valid until 2026 (2029 in some markets). The patent applications cover a total of 42 countries, including EU member countries, and is so far approved in Sweden, the United States (Notice of Allowance), China, Russia, Japan, Australia, New Zealand, South Africa, South Korea, Canada, Mexico, India and Israel.
Karessa's license for the invention applies worldwide and with an exclusive, eternal, royalty-free license for Karessa in the therapeutic area of erectile dysfunction provides a great opportunity to market the company's most successful project, K-03 Vardenafil buccal film in all major markets. The market for erectile dysfunction in Europe amounts to approximately 20 million patients and is estimated to have a value of approximately SEK 12 billion. The global market is estimated to a value of approximately SEK 40 billion.
This information is such information that Karessa Pharma Holding AB (publ) is obliged to disclose public according to the European Union's Market Abuse Regulation. The information was provided by the contact person below for publication on January 28, 16.00 CET.
FOR MORE INFORMATION, PLEASE CONTACT:
Michael Brobjer, CEO, Karessa Pharma Holding AB (publ)
Tel: +46 8-768 22 33
Email: michael.brobjer@karessa.se
About Karessa Pharma Holding AB
Karessa develops new pharmaceuticals based on a patented drug delivery technology and proven pharmaceutical substances in order to offer men with impotence problems a fast and more reliable effect. Karessa is listed on Nasdaq First North and has Remium Nordic Holding AB as Certified Advisor.
About Karessa's pharmaceutical projects for treatment of erectile dysfunction
Current treatment of impotence is well proven and has a favorable safety profile, but many patients are bothered by the delayed onset and that it may vary depending on food intake. These problems are a consequence of the drug being given as tablets and thus has to pass the stomach and liver before reaching the right place in the body.
Karessa has developed a buccal film with Vardenafil (K-03). The film is small and is placed on the inside of the chin where it dissolves as the drug is delivered directly into the bloodstream via the oral mucosa. By this way the drug is delivered into the body and a quick and reliable onset is achieved. This completely regardless of whether you just have been eaten a good dinner.
Impotence affects many middle-aged men and has an increased prevalence of age. The global market for impotence drugs is estimated to a value of approximately SEK 40 billion.
For more information, please visit karessa.se
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