BioStock article: Cyxone’s CEO comments on the US patent notice
BioStock published an article on 6 April 2023 about Cyxone, which can be read in full below.
Biotech company Cyxone develops new therapies for the treatment of autoimmune diseases, such as rheumatoid arthritis with the phase IIb candidate Rabeximod. The company reached a milestone in receiving a Notice of Allowance for the US patent of Rabeximod compounds. BioStock contacted CEO Carl-Magnus Högerkorp for a comment on the prospects of the patent.
Malmö-based Cyxone develops disease-modifying treatments for autoimmune diseases such as rheumatoid arthritis (RA) and multiple sclerosis (MS). The company’s lead candidate Rabeximod is in Phase II development for the treatment of RA.
The APPRAIS study with Rabeximod is intended for patients who do not respond to first-line therapy and are in the early stages of the disease. Cyxone has received approval in Poland, Hungary, and Georgia for the study.
In addition, the company also develops T20K, a phase I drug candidate. In combination with an opioid drug, T20K has the potential to be a new treatment for multiple sclerosis. Learn more.
US Patent application for Rabeximod
Recently, the company received a Notice of Allowance for the US patent for Rabeximod Compounds. The notice was issued by the US Patent Office (USPTO). Cyxone’s patent application covers the protection of salt forms of the compound Rabeximod, developed as a treatment for moderate to severe RA.
The notice indicates that the application has reached the status where it is allowed for issuance as a patent. According to the company, an issued patent will be valid until 2042.
So far in 2023, four of Cyxone’s international patent applications (PCT) have entered the national phase and are now being examined by the national patent offices.
Comments from Cyxone’s CEO
The market responded positively to the patent news and the Cyxone share rallied by over 40 percent on Nasdaq First North Growth Market during the day of the release. BioStock contacted CEO Carl-Magnus Högerkorp for a comment on the prospects of the patent.
Carl-Magnus, what does a patent notice in the US mean for the prospects and commercialisation of Rabeximod?
–The Notice of Allowance indicates that our patent application have recieved the status to become granted. Granted patents is the legal document that warrants real value building, such as comersialisation of products.
– The fact that this patent, which protects the rabeximod compound and the treatment of RA with rabeximod, will have a validity lasting until 2042, provides a valuable basis for the commersialisation of Rabeximod.
– With this patent we have a position on the strategically most important market, where 70-80 per cent of the sales of pharmaceutical products in the RA space occur.
What does it mean for the company going forward?
– The patent is a major valuation builder for the rabeximod project, as it secures future value well into the 2040s. This value consolidation will have a significant impact on our interactions with investors and future partners.
What will happen next?
– A strong patent portfolio combined with strong clinical data is what we strive for when building this company.
– We are now looking forward to start our phase IIb study APPRAIS as soon as we can, to levarage the full potential of the patent.
Learn more about Cyxone on the company’s website.
The content of BioStock’s news and analyses is independent but the work of BioStock is to a certain degree financed by life science companies. The above article concerns a company from which BioStock has received financing.
Read full article at biostock.se