NEW YORK, NY, April 17, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Qrons Inc. (OTC: QRON), an emerging biotechnology company developing advanced stem cell-synthetic hydrogel-based solutions to combat neuronal injuries with a laser focus on treating traumatic brain injuries (“TBIs”), both concussions and penetrating injuries, announced today that its PCT (“Patent Cooperation Treaty”) patent application, “Techniques for Promoting Neuronal Recovery”, relating to the treatment of traumatic injury to the central nervous system, such as TBI was filed on April 7, 2019 (Application No. PCT/IB2019/052850).
This PCT application, filed with the World Intellectual Property Organization, allows Qrons to file patent applications and seek protection in most major market countries throughout the world. These patent applications, if granted, have the potential to provide protection for Qrons’ technology for 20 years - until at least 2039.
The PCT application relates in general to the treatment of pathological central nervous system conditions, such as traumatic injury or neurodegenerative disease. More specifically the application includes several hundred claims relating to the uses of hydrogels in the treatment of such conditions.
Jonah Meer, Qrons Chief Executive Officer, commented, “We believe that the filing of this PCT patent application is a significant step in being able to protect our innovative and novel TBI therapy for many years to come. It is particularly important as we get closer to preparing for clinical trials of our product candidates in patients suffering from TBIs. In addition to TBIs, our technology also gives us opportunities to develop unique therapies for other forms of neuronal injuries.”
The PCT patent application originated from a provisional patent application by the same title that was filed with the U.S. Patent and Trademark Office (USPTO) on April 9, 2018 and a provisional patent application by the same title that was filed with the USPTO on January 22, 2019.
Ido Merfeld, Qrons co-founder and Head of Product and inventor, stated, “The filing protects our invention of implanting a synthetic hydrogel in order to promote neurogenesis and/or inhibit astrogliosis. We believe that the invention may have broad applications beyond TBIs to include many central nervous system conditions, including glioma, stroke, Parkinson’s, Alzheimer’s and Huntington’s disease as well as other neurodegenerative disorders.”
About Qrons Inc.
Headquartered in New York City, the Company is a publicly traded emerging biotechnology company developing advanced cell-based solutions to combat neuronal injuries with a laser focus on traumatic brain injuries and concussion. The Company has two product candidates for treating TBIs, both integrating proprietary, modified mesenchymal stem cells (MSCs) and smart synthetic material QS100™ an injury specific, 3D printable, implantable MSCs-synthetic hydrogel, to treat penetrating brain injuries and QS200™ an injectable MSCs-synthetic hydrogel for the treatment of diffused injuries commonly referred to as concussions. The Company entered into a license and research funding agreement ("License Agreement") and related service agreements with Ariel University R&D Co., Ltd., a wholly owned subsidiary of Ariel University, based in Ariel, Israel. In consideration for payments under the License Agreement, the Company received an exclusive worldwide royalty-bearing license in Ariel patents and know-how to develop and commercialize products for neuronal tissue regeneration and/or repair, resulting from Ariel's research or technology or the Company's research funding. The Company entered into a Sponsored Research Agreement with Dartmouth College funding further research with Professor Chenfeng Ke and his team at the Chemistry Department, aiming to develop innovative 3D printable, biocompatible advanced materials. The Company is negotiating, a worldwide, royalty-bearing, exclusive license with Dartmouth for Professor Ke's 3D printable materials in the field of human and animal health. Please visit http://www.qrons.com.
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting the Company's business including increased competition; the ability of the Company to expand its operations, to attract and retain qualified professionals, technological obsolescence; general economic conditions; and other risks detailed from time to time in the Company's filings.