Provides Validation of Novel GlycoPEGylation(TM) Technology
HORSHAM, Pa., Jan. 25 /PRNewswire-FirstCall/ -- Neose Technologies, Inc. (NASDAQ:NTEC) today announced that it has received a Notice of Allowance from the U.S. Patent and Trademark Office for a pending patent application related to its GlycoPEGylation(TM) technology. The allowed U.S. claims broadly cover glycosyl-linked poly(ethylene glycol) ("PEG") conjugates of therapeutic peptides. This is the first allowed patent application in a series of pending patent applications directed toward the company's broad GlycoConjugation(TM) technology platform.
"We believe the Notice of Allowance for these claims validates the unique nature of our technology and gives us a proprietary advantage in our primary strategy of developing next-generation therapeutic peptides," said David A. Zopf, M.D., executive vice president and chief scientific officer of Neose. "The applicability of this patent is extensive in that it validates the patentability in the United States of Neose's technology and next-generation peptide therapeutics produced using this technology, as well as providing guidance for Neose in securing patent protection outside the United States," continued Dr. Zopf.
The issuance of this patent will complement the company's broad intellectual property portfolio. Neose owns 25 issued U.S. patents and has licensed 68 issued U.S. patents from other institutions. In addition, the company has 85 pending U.S. patent applications. There are also more than 500 foreign patent applications pending or granted related to our owned and licensed patents.
About GlycoPEGylation(TM) Neose's GlycoPEGylation(TM) technology can extend and customize protein half-life by uniquely linking various size PEG (polyethylene glycol) polymers to glycans that are remote from the protein's active site, thereby preserving activity. Proteins that have not benefited from traditional chemical pegylation may benefit from GlycoPEGylation(TM). To date, the company has successfully applied its GlycoPEGylation(TM) technology to a variety of therapeutic peptides.
About Neose Technologies, Inc.
Neose is a biopharmaceutical company using its proprietary enzymatic technologies to develop improved drugs, focusing primarily on therapeutic proteins. Neose uses its GlycoAdvance(R) and GlycoPEGylation(TM) technologies to develop improved versions of drugs with proven safety and efficacy. Neose intends to apply its technologies to products it is developing on its own and to products it co-develops and co-owns with others. It also expects to make its technologies available, through strategic partnerships, to improve the products of other parties. Neose's first two proprietary candidates are NE-180 (GlycoPEG-EPO), a long-acting version of erythropoietin, and GlycoPEG-GCSF, a long-acting version of granulocyte colony stimulating factor (G-CSF).
CONTACTS:
Neose Technologies, Inc. A. Brian Davis
Sr. Vice President and Chief Financial Officer
(215) 315-9000 Barbara Krauter
Manager, Investor Relations
(215) 315-9004 For more information, please visit http://www.neose.com/.
Neose "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding our business that are not historical facts are "forward-looking statements" that involve risks and uncertainties, including without limitation the risk that another party will infringe on Neose's intellectual property portfolio, the risk that third parties could initiate litigation or interference proceedings which would hinder, or greatly increase the cost of, Neose's product development and commercialization efforts, the risk that Neose will not be able to profitably develop or commercialize products arising from the technology embodied in its intellectual property portfolio. For a discussion of these risks and uncertainties, any of which could cause our actual results to differ from those contained in the forward-looking statement, see the section of Neose's Annual Report on Form 10-K for the year ended December 31, 2004, entitled "Factors Affecting the Company's Prospects" and discussions of potential risks and uncertainties in Neose's subsequent filings with the SEC. First Call Analyst: FCMN Contact: DATASOURCE: Neose Technologies, Inc.
CONTACT: A. Brian Davis, Sr. Vice President and Chief Financial Officer, +1-215-315-9000, or Barbara Krauter, Manager, Investor Relations, +1-215-315-9004, both of Neose Technologies, Inc.
Web site: http://www.neose.com/
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