Friday, April 05, 2013, 17:30 Hrs [IST]
Islet Sciences, Inc., a biotechnology company engaged in the research, development and commercialisation of patented technologies for people with diabetes, has received the receipt of a notice of claims allowance for its US Patent Application No. 12/036,646. The title of the invention is ‘Lisofylline Analogues and Methods for Use’.
“This claims allowance for our US patent application is another aspect to the value of our therapies which represents such a large market opportunity for the diabetic community and our stakeholders,” said John Steel, chairman and CEO of Islet Sciences. “We are pleased to announce this significant milestone which clearly strengthens our value proposition.”
The invention is based on the research of Timothy L Macdonald, University of Virginia professor of chemistry and pharmacology, and Dr Jerry L Nadler, former chief of endocrinology and metabolism at the University of Virginia. Dr Nadler is now chair of Internal Medicine and director of the Strelitz Diabetes Centre at Eastern Virginia Medical School.
Dr Jerry Nadler, MD, founder of DiaKine Therapeutics Inc., a member of the Islet Sciences’ Board of Directors and International Scientific Advisory Board stated, “The allowance of these claims is a wonderful positive step in helping to develop unique new drugs for unmet medical needs to treat type 1 and type 2 diabetes and related complications.”
“This exciting discovery has the potential to treat patients living with diabetes, and this action by the US Patent and Trademark Office shows that it is also groundbreaking,” said Michael P Straightiff, director of the U.Va. Licensing & Ventures Group. “I extend my congratulations to Tim, Jerry and the Islet Sciences team on their continued success in this area.”
The notice of claims allowance includes composition and methods of treating a disease or disorder comprising the step of administering an effective amount of a compound or a pharmaceutically acceptable salt thereof, wherein the disease or disorder is selected from the group consisting of atherosclerosis, type 1 diabetes, type 2 diabetes, disorders associated with visceral obesity, multiple sclerosis, inflammatory bowel disease, psoriasis, rheumatoid arthritis, and Alzheimer’s disease, or any combination thereof.
Islet Sciences is a development-stage biotechnology company with patented technologies focused on infusion therapy for people with insulin-dependent diabetes.