LEXINGTON, Mass., May 9, 2017 /PRNewswire/ -- Pulmatrix, Inc.
(NASDAQ: PULM), a clinical stage biopharmaceutical company
developing innovative inhaled therapies to address serious
pulmonary diseases, today announced that it has received a key
patent in the United States for
its lead drug candidate, PUR0200, which is intended to treat
chronic obstructive pulmonary diseases (COPD).
"This patent ensures that the product is protected by
intellectual property until 2033," said Robert W. Clarke, Ph.D.,
Chief Executive Officer for Pulmatrix. "It also is further
recognition of the potential medical advances offered by our
innovative iSPERSE™ technology for delivering drugs to
the lungs more efficiently."
The new patent, US 9642798, follows both an earlier patent
granted in Japan in 2016 (JP
5877204) for the composition of PUR0200 and several broader patents
(such as US 9061352, 9119778, 9233158, 9238005 and 9433576) that
provide protection for Pulmatrix's technology platform and its use
to treat a wide variety of diseases.
The new patent covers PUR0200, an inhaled drug made by combining
Pulmatrix's technology platform with tiotropium bromide. Tiotropium
bromide is the active ingredient in Spiriva, a blockbuster inhaled
drug with annual global sales of approximately €3 billion in
2016.
The limitation with current inhaled products is that a
significant amount of the drugs get stuck in the mouth or throat,
causing side effects and poor delivery efficiency to the intended
site of action in the lungs. Pulmatrix has tackled this problem by
creating a dry powder that 'flies' more easily into the lungs.
Drugs like tiotropium bromide that are incorporated into the
iSPERSE powder thus are far more likely to reach their intended
target, offering a major medical benefit.
In fact, clinical trials of PUR0200 have shown that the product
is up to five times more efficient at delivering the drug to the
lungs than are the currently marketed alternatives.
Pulmatrix is now developing PUR0200 in both Europe and the
United States, following regulatory pathways that offer
quicker approvals and lower costs.
"This new patent is another step forward to bringing PUR0200 to
market—and to be able to offer new benefits to patients suffering
from COPD," added Dr. Clarke.
About
Pulmatrix
Pulmatrix is a clinical stage biopharmaceutical company developing
innovative inhaled therapies to address serious pulmonary disease
using its patented iSPERSE™ technology. The Company's proprietary
product pipeline is focused on advancing treatments for lung
diseases, including opportunities in major pulmonary diseases
through collaborations, like PUR0200, a branded generic in clinical
development for chronic obstructive pulmonary disease (COPD) and
PUR1900, an inhaled antifungal that could benefit severe asthmatics
and patients with rare diseases like cystic fibrosis.
Pulmatrix's product candidates are based on iSPERSE™, its
proprietary dry powder delivery platform, which seeks to improve
therapeutic delivery to the lungs by maximizing local
concentrations and reducing systemic side effects to improve
patient outcomes.
FORWARD-LOOKING STATEMENTS
Certain statements
in this press release that are forward-looking and not statements
of historical fact are forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements
include, but are not limited to, statements concerning the amount
and use of proceeds the Company expects to receive from the sale of
the shares of common stock in the registered direct offering, the
closing of the transaction described in this press release, which
is subject to customary conditions, and other statements that are
not statements of historical fact, and may be identified by words
such as "anticipates," "assumes," "believes," "can," "could,"
"estimates," "expects," "forecasts," "guides," "intends," "is
confident that", "may," "plans," "seeks," "projects," "targets,"
and "would," and their opposites and similar expressions are
intended to identify forward-looking statements. The Company
cautions that such statements involve risks and uncertainties that
may materially affect the Company's results of operations. Such
forward-looking statements are based on the beliefs of management
as well as assumptions made by and information currently available
to management. Actual results could differ materially from those
contemplated by the forward-looking statements as a result of
certain factors, including, but not limited to, market and other
conditions, the satisfaction of customary closing conditions
related to the registered direct offering of common stock, the
ability to establish that potential products are efficacious or
safe in preclinical or clinical trials; the ability to establish or
maintain collaborations on the development of therapeutic
candidates; the ability to obtain appropriate or necessary
governmental approvals to market potential products; the ability to
obtain future funding for developmental products and working
capital and to obtain such funding on commercially reasonable
terms; the Company's ability to manufacture product candidates on a
commercial scale or in collaborations with third parties; changes
in the size and nature of competitors; the ability to retain key
executives and scientists; and the ability to secure and enforce
legal rights related to the Company's products, including patent
protection. A discussion of these and other factors, including
risks and uncertainties with respect to the Company, is set forth
in the Company's filings with the Securities and Exchange
Commission, including its annual report on Form 10-K filed with the
Securities and Exchange Commission on March
10, 2017, as may be supplemented or amended by the Company's
Quarterly Reports on Form 10-Q. The Company disclaims any intention
or obligation to revise any forward-looking statements, whether as
a result of new information, future events or otherwise, except as
required by law.
Investor
Contact
Robert Clarke,
CEO
(781)
357-2333
rclarke@pulmatrix.com
William Duke, CFO
(781) 357-2333
wduke@pulmatrix.com
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SOURCE Pulmatrix, Inc.