Ocean Biomedical (NASDAQ:OCEA) announced today that its Scientific
Co-founder Dr. Jonathan Kurtis, MD, PhD, has been issued a key U.S.
patent for his groundbreaking malaria therapeutic antibody
discovery that targets PfGARP. Since publicizing news of his
original research on PfGARP and its critical role in the malaria
cycle in the Journal NATURE, Dr. Kurtis and his team have been
working to deepen their understanding of how it naturally triggers
the death of malaria parasites, and their control of that
mechanism. Their expanded insights have already led to: 1.) a
powerful
vaccine candidate targeted for long term
prevention of malaria infection; 2.) a
therapeutic antibody
candidate for short term malaria prevention; and 3.) a
therapeutic small molecule drug candidate targeted
to treat severe malaria, with potential to launch a whole new class
of malaria medicines.
This patent is adding to Ocean Biomedical’s
global patent portfolio of over 5 dozen patents for discoveries
with potential to impact major unmet medical needs in infectious
disease, oncology, and fibrosis, developed through grants totaling
over $125M.
Kurtis’ novel approach causes parasite death at
a key stage in the malarial cycle, triggering programmed cell death
through apoptosis. This patent expands protection for Dr. Kurtis’
novel discoveries at a time when the most common strains of malaria
are showing signs of growing resistance to current
Artemisinin-based drugs.
“Inducing parasite cell death via targeting
PfGARP is a novel approach that has potential to result in a whole
new class of anti-malarial interventions, including mRNA-based
vaccines, small molecule drugs and our current monoclonal
antibody,” said Dr. Kurtis. “Our monoclonal antibody and small
molecule drug comes at a critical time because malaria parasites
are developing resistance to current frontline therapeutics, and
the currently approved vaccine offers only very limited
protection.”
Dr. Jonathan Kurtis conducting research near
Kisumu, Kenya, one of the world’s most malaria-infected regions
Addressing a Global Unmet Need
Malaria is the greatest single-agent killer of
children on the planet, killing approximately 627,000 individuals
in 2022. Artemisinin-based drug therapy remains the mainstay of
treatment, but the spread of parasites resistant to this family of
compounds threatens recent progress achieved by antimalarial
campaigns and underscores the urgent need to identify new
anti-malarial drugs.
Leadership Comments
“At each step in the process we are learning
more about how this “kill switch” mechanism works to interrupt the
malaria parasite’s lifecycle, and how we can exploit that on the
prevention side and the treatment side,” commented Dr. Jake Kurtis,
Scientific Co-founder of Ocean Biomedical, member of Ocean
Biomedical’s board of directors and Chair of Pathology and
Laboratory Medicine at the Warren Alpert Medical School Brown
University.
“The progress we have been able to make thus far
in advancing novel targets is a testament to Ocean Biomedical’s
innovative model and deep partnership with premier research
institutions. We are hopeful that Dr. Kurtis’ discoveries will lead
to powerful new treatment options that can save hundreds of
thousands of lives, and we are proud to be leading in this
important work,” said Elizabeth Ng, Chief Executive Officer of
Ocean Biomedical.
“The resurgence of Falciparum malaria worldwide
is increasingly alarming and we are pleased to see Dr. Kurtis’ work
receive this patent coverage for such an important discovery. We
will work hard to accelerate the development of our novel vaccine
candidate and this novel class of antimalarial antibodies to get a
new treatment option for severe malaria available as soon as
possible,” said Dr. Chirinjeev Kathuria, co-founder and Executive
Chairman.
About Ocean Biomedical
Ocean Biomedical, Inc. is a Providence, Rhode
Island-based biopharma company with an innovative business model
that accelerates the development and commercialization of
scientifically compelling assets from research universities and
medical centers. Ocean Biomedical deploys the funding and expertise
to move new therapeutic candidates efficiently from the laboratory
to the clinic, to the world. Ocean Biomedical is currently
developing five promising discoveries that have the potential to
achieve life-changing outcomes in lung cancer, brain cancer,
pulmonary fibrosis, and the prevention and treatment of malaria.
The Ocean Biomedical team is working on solving some of the world’s
toughest problems, for the people who need it most.
To learn more, visit www.oceanbiomedical.com
Forward-Looking Statements
The information included herein and in any oral
statements made in connection herewith include “forward-looking
statements” within the meaning of the “safe harbor” provisions of
the United States Private Securities Litigation Reform Act of 1995.
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current expectations of the Company’s management and are not
predictions of actual performance. These forward-looking statements
are provided for illustrative purposes only and are not intended to
serve as, and must not be relied on by any investor as, a
guarantee, an assurance, a prediction or a definitive statement of
fact or probability. Actual events and circumstances are difficult
or impossible to predict and will differ from assumptions.
The announced discoveries were based solely on
laboratory and animal studies. Ocean Biomedical has not conducted
any studies that show similar efficacy or safety in humans. There
can be no assurances that this treatment will prove safe or
effective in humans, and that any clinical benefits of this
treatment is subject to clinical trials and ultimate approval of
its use in patients by the FDA. Such approval, if granted, could be
years away.
Forward-looking statements are predictions,
projections and other statements about future events that are based
on current expectations and assumptions and, as a result, are
subject to risks and uncertainties. These forward-looking
statements are not guarantees of future performance, conditions or
results, and involve a number of known and unknown risks,
uncertainties, assumptions and other important factors, many of
which are outside the control of the Company that could cause
actual results or outcomes to differ materially from those
discussed in the forward-looking statements. Important factors,
among others, that may affect actual results or outcomes include
(i) the outcome of any legal proceedings that may be instituted
against the Company; (ii) changes in the markets in which the
Company competes, including with respect to its competitive
landscape, technology evolution, or regulatory changes; (iii)
changes in domestic and global general economic conditions; (iv)
risk that the Company may not be able to execute its growth
strategies; (v) risks related to the ongoing COVID-19 pandemic and
response, including supply chain disruptions; (vi) risk that the
Company may not be able to develop and maintain effective internal
controls; (vii) the risk that the Company may fail to keep pace
with rapid technological developments to provide new and innovative
products and services or make substantial investments in
unsuccessful new products and services; (viii) the ability to
develop, license or acquire new therapeutics; (ix) the risk that
the Company will need to raise additional capital to execute its
business plan, which may not be available on acceptable terms or at
all; (x) the risk that the Company experiences difficulties in
managing its growth and expanding operations; (xi) the risk of
product liability or regulatory lawsuits or proceedings relating to
the Company’s business; (xii) the risk of cyber security or foreign
exchange losses; (xiii) the risk that the Company is unable to
secure or protect its intellectual property.
The foregoing list of factors is not exhaustive.
You should carefully consider the foregoing factors and the other
risks and uncertainties that are described in the Company’s Annual
Report on Form 10-K for the year ended December 31, 2021 and its
Quarterly Report on Form 10-Q for the quarter ended September 30,
2022, and which are described in the “Risk Factors” section of the
Company’s definitive proxy statement filed by the Company on
January 12, 2023, and other documents to be filed by the Company
from time to time with the SEC and which are and will be available
at www.sec.gov. These filings identify and address other important
risks and uncertainties that could cause actual events and results
to differ materially from those contained in the forward-looking
statements. Forward-looking statements speak only as of the date
they are made. Readers are cautioned not to put undue reliance on
forward-looking statements. These forward-looking statements should
not be relied upon as representing the Company’s assessments as of
any date subsequent to the date of this filing. Accordingly, undue
reliance should not be placed upon the forward-looking
statements.
Ocean Biomedical Investor Relations info@oceanbiomedical.com
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