Avenue Therapeutics Receives Notices of Allowance for Patent Applications Covering Methods of Administration for Intravenous ...
January 03 2017 - 8:00AM
Avenue Therapeutics, Inc. (“Avenue”), a Fortress Biotech
(NASDAQ:FBIO) Company, today announced that Notices of Allowance
have now been received from the U.S. Patent and Trademark Office
(USPTO) for two patent applications that cover methods of
administration for its lead product candidate intravenous (IV)
tramadol. These patent applications are continuation patent
applications of issued U.S. patent 8,895,622, titled "Intravenous
Administration of Tramadol." The patents to be issued from
these allowed applications (U.S. Application Nos. 14/550,279 and
14/713,775), which carry a patent term to at least 2032, contain
claims directed to Avenue’s proposed administration of IV tramadol
for Phase III development. Issuance of both of these
patents is expected early in the first quarter of 2017.
“These patents will significantly strengthen the protection of
the methods of administration for our IV tramadol in acute pain and
are important additions to our intellectual property portfolio,”
said Lucy Lu, MD, Avenue’s Interim Chief Executive Officer. “The
timing of the allowance is ideal as we prepare to begin our Phase
III clinical program in 2017.”
These patent applications fall under Avenue’s licensing
agreement with Revogenex Ireland Ltd.
About Avenue TherapeuticsAvenue Therapeutics,
Inc. (“Avenue”), a Fortress Biotech Company, is a specialty
pharmaceutical company that acquires or in-licenses, develops and
commercializes products for use in acute healthcare or hospital
settings. Avenue’s lead product candidate is intravenous (IV)
Tramadol for the management of post-operative pain. The
company plans to initiate a Phase III development program of IV
Tramadol in 2017. Avenue is headquartered in New York City.
For more information, visit www.avenuetx.com.
About Fortress BiotechFortress Biotech, Inc.
(“Fortress”) is a biopharmaceutical company dedicated to acquiring,
developing and commercializing novel pharmaceutical and
biotechnology products. Fortress develops and commercializes
products both within Fortress and through certain of its subsidiary
companies, also known as Fortress Companies. Additionally,
Fortress recently acquired a controlling interest in National
Holdings Corporation (NASDAQ:NHLD), a diversified independent
brokerage company (together with its subsidiaries, “NHLD”). In
addition to its internal development programs, Fortress leverages
its biopharmaceutical business expertise and drug development
capabilities and provides funding and management services to help
the Fortress Companies achieve their goals. Fortress and the
Fortress Companies may seek licensings, acquisitions, partnerships,
joint ventures and/or public and private financings to accelerate
and provide additional funding to support their research and
development programs. For more information, visit
www.fortressbiotech.com.
Forward-Looking StatementsThis
press release may contain “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934, as amended. Such
statements include, but are not limited to, any statements relating
to our growth strategy and product development programs and any
other statements that are not historical facts. Forward-looking
statements are based on management’s current expectations and are
subject to risks and uncertainties that could negatively affect our
business, operating results, financial condition and stock price.
Factors that could cause actual results to differ materially from
those currently anticipated are: risks related to our growth
strategy; risks relating to the results of research and development
activities; our ability to obtain, perform under and maintain
financing and strategic agreements and relationships; uncertainties
relating to preclinical and clinical testing; our dependence on
third-party suppliers; our ability to attract, integrate, and
retain key personnel; the early stage of products under
development; our need for substantial additional funds; government
regulation; patent and intellectual property matters; as well as
competition. We expressly disclaim any obligation or undertaking to
release publicly any updates or revisions to any forward looking
statements contained herein to reflect any change in our
expectations or any changes in events, conditions or circumstances
on which any such statement is based, except as required by
law.
Contact:
Lucy Lu, MD, Interim Chief Executive Officer
Avenue Therapeutics, Inc.
781-652-4500; ir@avenuetx.com
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