USPTO Issues Patent for Avicena Group's Proprietary Compounds to Treat Amyotrophic Lateral Sclerosis
November 13 2007 - 8:30AM
PR Newswire (US)
Patent Expands Existing IP to Treat ALS PALO ALTO, Calif., Nov. 13
/PRNewswire-FirstCall/ -- Avicena Group, Inc. (OTC:AVGO) (BULLETIN
BOARD: AVGO) , a late-stage biotechnology company that develops
central nervous system therapeutics for neurodegenerative
disorders, announced today that the United States Patent and
Trademark Office (USPTO) has granted the Company U.S. Patent
#7,285,573 for the use of the Company's proprietary drug candidates
for the treatment of amyotrophic lateral sclerosis ("ALS" or "Lou
Gehrig's Disease"). This patent expands the Company's existing U.S.
and international IP portfolio to 22 issued patents and 30 pending
patents. This patent provides further protection for the Company's
growing portfolio of drug candidates for the treatment of ALS,
which are designed to slow disease progression and improve the
quality of life for patients. The Company's present ALS drug
candidates, AL-02 and AL-08, have been the subjects of an extensive
body of clinical research including Phase II/III trials conducted
by the Northeast ALS Consortium (NEALS), Carolinas Medical Center
and Utrecht University. The pooled analysis of these studies showed
an increase of 1.47-fold in median survival compared to results in
patients taking a placebo. Portions of these data have been
presented to the FDA and formed the basis for Avicena Group's
intent to initiate a confirmatory Phase III trial in 2008. This
study will evaluate AL-02's effect on the primary endpoint of
median survival and secondary endpoints of ALS functional scores.
"Avicena continues to execute its critical milestones. While we are
advancing our drug candidates through clinical trials, including
the ongoing Phase III trial in Parkinson's disease, we are also
securing patent protection as we move closer to potential
commercialization of our therapeutic candidates," stated Belinda
Tsao Nivaggioli, Ph.D., Chairman and CEO of Avicena. "We are very
excited about the prospects of AL-02 for the treatment of ALS and
are gearing up to initiate the confirmatory Phase III early 2008."
ABOUT AVICENA(TM) Avicena Group, Inc. (OTC:AVGO) (BULLETIN BOARD:
AVGO) is a Palo Alto, California based late-stage biotechnology
company that develops central nervous system therapeutics for
neurodegenerative diseases. The Company's core technologies,
supported by a robust IP portfolio, have broad applications in both
pharmaceuticals and dermaceuticals. Avicena's pharmaceutical
program centers on rare neurological disorders (orphan diseases).
Near term, the Company plans to initiate a confirmatory Phase III
trial in ALS and a Phase III trial in Huntington's disease to
accompany the ongoing NIH-sponsored Phase III trial in Parkinson's
disease. Avicena Group's science is well established and its
products are safe and well tolerated. Unlike traditional
biotechnology companies, Avicena Group's clinical programs are
largely funded by government and non-profit organizations. Avicena
presently derives revenue from the sale of proprietary
dermaceutical ingredients to skin-care manufacturers. SAFE HARBOR
This release contains forward-looking statements that reflect,
among other things, management's current expectations, plans and
strategies, all of which are subject to known and unknown risks,
uncertainties and factors that may cause our actual results to
differ materially from those expressed or implied by these
forward-looking statements. Many of these risks are beyond our
ability to control or predict. See "Risk Factors" under "Item 6.
Management's Discussion and Analysis of Financial Condition and
Results of Operation" from our Annual Report on Form 10-KSB for the
year ended December 31, 2006, and other descriptions in the
Company's public filings with the Securities and Exchange
Commission for a discussion of such risks, including the Company's
need for additional funds, the Company's dependence on a limited
number of therapeutic compounds, the stage of the products the
Company is developing, uncertainties relating to clinical trials
and regulatory reviews, competition and dependence on collaborative
partners, the Company's ability to avoid infringement of the patent
rights of others, and the Company's ability to obtain adequate
patent protection and to enforce these rights. Because of these
risks, uncertainties and assumptions, you should not place undue
reliance on these forward-looking statements. Furthermore,
forward-looking statements speak only as of the date they are made.
Avicena does not undertake any obligation to update or review any
such forward-looking information, whether as a result of new
information, future events or otherwise. Contact: The Ruth Group
(on behalf of Avicena Group) Sara Ephraim (investors) (646)
536-7002 Janine McCargo / Jason Rando (media) (646) 536-7033 / 7025
DATASOURCE: Avicena Group, Inc. CONTACT: Investors, Sara Ephraim,
+1-646-536-7002, or Media, Janine McCargo, +1-646-536-7033, or
Jason Rando, +1-646-536-7025, all of The Ruth Group, for Avicena
Group, Inc.
Copyright