Avenue Therapeutics Receives Notice of Allowance for a New Patent Application Covering Methods of Administration for Intraven...
May 19 2017 - 8:00AM
Avenue Therapeutics, Inc. (“Avenue”), a Fortress Biotech
(NASDAQ:FBIO) Company, today announced that Notice of Allowance has
now been received from the U.S. Patent and Trademark Office (USPTO)
for a new patent application (U.S. Application No. 15/163,111),
entitled "Intravenous Administration of Tramadol.” The patent
application describes and claims a dosing regimen of intravenous
(IV) 50 mg tramadol that provides certain pharmacokinetic
parameters that are similar to those of 100 mg tramadol HCl
administered orally every 6 hours at steady state.
“This new patent is a key milestone for us because it solidifies
the intellectual property position of our IV tramadol program,”
said Lucy Lu, MD, a co-inventor of the patent and Avenue’s Interim
Chief Executive Officer.
This patent application falls 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 subsidiary
companies, also known as Fortress Companies. 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; patent and intellectual property matters; 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; 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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