Copenhagen and Oslo, 12th October, 2011, 2011-10-12 09:00 CEST (GLOBE NEWSWIRE) -- Affitech A/S, (NASDAQ OMX: AFFI), the antibody medicines company, announced today that the U.S. Patent and Trademark Office (USPTO) has granted Affitech U.S. patent (no. 8,034,905) covering the Company’s leading anti-VEGF antibody drug candidate AT001/r84. The newly granted US patent is the first patent grant Affitech has received for this compound in a major territory and it considerably strengthens Affitech's IP position regarding this drug candidate. The patent is co-owned by Affitech and its collaboration partner Peregrine Pharmaceuticals.
Commenting on the new patent, Managing Director of Affitech A/S Martin Welschof said:
“The grant of the patent on AT001/r84 by the USPTO is pleasant news. We hereby extend our patent portfolio for AT001/r84 to include USA, which is important for the further development of this antibody drug candidate. The development of AT001/r84 is progressing well and IBC Generium expects to commence the first phase 1 clinical trial with the drug candidate before year end 2011.”
About AT001/r84
AT001/r84 is a novel, proprietary therapeutic antibody to vascular endothelial growth factor (VEGF) being developed by Affitech and IBC Generium as a potential alternative to bevacizumab (Avastin®) for the treatment of certain human cancers. The Russian health authorities have identified cancer therapy based on anti-VEGF antibodies as one of the top priority areas of pharma-innovation in Russia. Affitech’s AT001/r84 has the potential to satisfy patient needs in this area. The rights to develop and commercialize AT001/r84 outside Russia and the CIS remain with Affitech.
About Affitech
Affitech A/S is a publicly traded (NASDAQ OMX Copenhagen) human therapeutic antibody company based in Copenhagen, Denmark with R&D facilities in Oslo, Norway. The company utilizes a range of proprietary antibody technologies for the discovery of fully human antibodies for application in oncology, inflammation and other disease areas. CBAS™ (Cell Based Antibody Selection) is Affitech’s premier discovery engine for the isolation of lead antibodies to cell surface molecules. Affitech co-develops its two lead antibody drug programs AT001/r84 and AT008/CCR4 with Russian partner IBC Generium. The Company’s initial focus is on rapid and cost effective development by partnering clinical trials in emerging markets. Further information is available at www.affitech.com.
Disclaimer
This news release contains forward-looking statements and forecasts based on uncertainty, since they relate to events and depend on circumstances that will occur in the future and which, by their nature, will have an impact on results of the financial condition and operations of Affitech A/S. There are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements and forecasts. These factors include, among other things, risks associated with technological development, the risk that research & development will not yield new products that achieve commercial success, the impact of competition, the ability to transact viable and profitable commercial deals, the risk of non-approval of patents not yet granted, and difficulties of obtaining relevant governmental approvals for new products.
No expressed or implied representations or warranties are given concerning Affitech A/S or the accuracy or completeness of the information provided herein, and no claims shall be made by the recipient of this news release by virtue of the information contained herein.
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Contact:
Randi Krogsgaard, Director IR & Corporate Communications
Tel # +45 2320 1001, e-mail: ir@affitech.com
