Timber Pharmaceuticals Announces European Patent Office Intends to Grant Patent for BPX-01 and BPX-04
July 22 2020 - 8:00AM
via NEWMEDIAWIRE -- Timber Pharmaceuticals, Inc. ("Timber" or
the “Company”) (NYSE American: TMBR), a biopharmaceutical company
focused on the development and commercialization of treatments for
orphan dermatologic diseases, today announced that it has received
notice from the European Patent Office (EPO) that it intends to
grant a patent for the company’s topical composition of
pharmaceutical tetracycline (including minocycline) for
dermatological use (European Patent Application No.
16714168.8).
In May 2020, Timber announced the closing of a
merger with BioPharmX Corporation and its intention to evaluate
BioPharmX's Phase 3 ready proprietary topical programs in the
treatment of inflammatory lesions of acne vulgaris and
papulopustular rosacea for a strategic partnership, co-development
or other non-dilutive value creation strategy. The new EPO patent
will further protect these assets.
“Orally delivered compositions of tetracycline
antibiotics have been used for decades for the treatment of
dermatologic conditions including acne, but systemic delivery is
accompanied by adverse side effects,” said John Koconis, chief
executive officer of Timber. “Designing a stable topical
composition with the potential to reduce those side effects has
been an important challenge that required innovative approaches. We
are pleased to add this EPO patent to our extensive dermatology
portfolio.”
BioPharmX previously received patent protection
for the topical composition of pharmaceutical tetracycline for
dermatological use in the United States and South Africa. Certain
claims related to this application have also recently been accepted
in Australia.
About Timber Pharmaceuticals, Inc.
Timber Pharmaceuticals, Inc. is a
biopharmaceutical company focused on the development and
commercialization of treatments for orphan dermatologic diseases.
The Company's investigational therapies have proven
mechanisms-of-action backed by decades of clinical experience and
well-established CMC (chemistry, manufacturing and control) and
safety profiles. The Company is initially focused on developing
non-systemic treatments for rare dermatologic diseases including
congenital ichthyosis (CI), facial angiofibromas (FAs) in tuberous
sclerosis complex (TSC), and localized scleroderma. For more
information, visit https://www.timberpharma.com/.
Forward-Looking Statements
This press release contains certain
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 and Private Securities Litigation Reform Act, as
amended, including those relating to the Company's product
development, clinical and regulatory timelines, market opportunity,
competitive position, possible or assumed future results of
operations, business strategies, potential growth opportunities and
other statements that are predictive in nature. These
forward-looking statements are based on current expectations,
estimates, forecasts and projections about the industry and markets
in which we operate and management's current beliefs and
assumptions.
These statements may be identified by the use of
forward-looking expressions, including, but not limited to,
"expect," "anticipate," "intend," "plan," "believe," "estimate,"
"potential, "predict," "project," "should," "would" and similar
expressions and the negatives of those terms. These statements
relate to future events or our financial performance and involve
known and unknown risks, uncertainties, and other factors which may
cause actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Such
factors include those set forth in the Company's filings with the
Securities and Exchange Commission. Prospective investors are
cautioned not to place undue reliance on such forward-looking
statements, which speak only as of the date of this press release.
The Company undertakes no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future events or otherwise.
For more information,
contact:
Timber Pharmaceuticals, Inc. John
Koconis Chief Executive Officerjkoconis@timberpharma.com
Investor Relations:Stephanie PrincePCG
Advisory(646) 762-4518sprince@pcgadvisory.com
Media Relations: Adam DaleyBerry &
Company Public Relations (212) 253-8881adaley@berrypr.com
Timber Pharmaceuticals (AMEX:TMBR)
Historical Stock Chart
From Aug 2024 to Sep 2024
Timber Pharmaceuticals (AMEX:TMBR)
Historical Stock Chart
From Sep 2023 to Sep 2024