ABVC BioPharma Receives U.S. Patent for ADHD Treatment, a $32 Billion Market
November 21 2023 - 8:30AM
via NewMediaWire -- ABVC BioPharma, Inc. (NASDAQ: ABVC)
("Company"), a clinical-stage biopharmaceutical company developing
therapeutic solutions in ophthalmology, neurology, and
oncology/hematology, announced today that it received a U.S.
patent, Application No. 17/120,965, for the use of PDC-1421, a
Radix Polygala (Polygala tenuifolia Willd) extract, which is used
in the Company's asset ABV-1505, targeting Attention
Deficit/Hyperactivity Disorder (ADHD).
"This patent grants ABVC the right to exclude others from using,
offering, or selling PDC-1421 throughout the United States until
2040," said Dr. Uttam Patil, ABVC Chief Executive Officer. "As we
work towards expanding our patent map into global coverage, we
eagerly await the results of patent applications in the European
Union, China, Japan, and others."
ABVC submitted the patent application to the United States
Patent and Trademark Office under "Polygala Extract for the
Treatment of ADHD." The invention relates to oral administration of
the formulation containing a Radix Polygala (Polygala tenuifolia
Willd) extract, PDC-1421, as a capsule for treating ADHD. Based on
current studies, the composition should be administered three times
a day for eight weeks; each dose ranges between 380-760 mg of the
botanical extraction.
ABV-1505, the Company's asset indicated for use in ADHD,
containing PDC-1421, is a botanical-based Norepinephrine
Transporter (NET) inhibitor that has completed Phase IIa clinical
studies; the Phase IIb study is underway, and we expect to release
the interim report by the end of the year.
According to the Polaris market research report, the global ADHD
treatment market was valued at $16.13 billion in 2022 and is
expected to reach $32.14 billion by 2030 with a CAGR of 7.1% over
the forecast period.1
About ABVC BioPharma & Its Industry
ABVC BioPharma is a clinical-stage biopharmaceutical company
with an active pipeline of six drugs and one medical device
(ABV-1701/Vitargus®) under development. For its drug products, the
Company utilizes in-licensed technology from its network of
world-renowned research institutions to conduct proof-of-concept
trials through Phase II of clinical development. The Company's
network of research institutions includes Stanford University,
University of California at San Francisco, and Cedars-Sinai Medical
Center. For Vitargus®, the Company intends to conduct global
clinical trials through Phase III.
Forward-Looking Statements
This press release contains "forward-looking statements." Such
statements may be preceded by the words "intends," "may," "will,"
"plans," "expects," "anticipates," "projects," "predicts,"
"estimates," "aims," "believes," "hopes," "potential," or similar
words. Forward-looking statements are not guarantees of future
performance, are based on certain assumptions, and are subject to
various known and unknown risks and uncertainties, many of which
are beyond the Company's control, and cannot be predicted or
quantified, and, consequently, actual results may differ materially
from those expressed or implied by such forward-looking statements.
None of the outcomes expressed herein are guaranteed. Such risks
and uncertainties include, without limitation, risks and
uncertainties associated with (i) our inability to manufacture our
product candidates on a commercial scale on our own, or in
collaboration with third parties; (ii) difficulties in obtaining
financing on commercially reasonable terms; (iii) changes in the
size and nature of our competition; (iv) loss of one or more key
executives or scientists; and (v) difficulties in securing
regulatory approval to proceed to the next level of the clinical
trials or to market our product candidates. More detailed
information about the Company and the risk factors that may affect
the realization of forward-looking statements is set forth in the
Company's filings with the Securities and Exchange Commission
(SEC), including the Company's Annual Report on Form 10-K and its
Quarterly Reports on Form 10-Q. Investors are urged to read these
documents free of charge on the SEC's website at
http://www.sec.gov. The Company assumes no obligation to publicly
update or revise its forward-looking statements as a result of new
information, future events or otherwise.
This press release does not constitute an offer to sell, or the
solicitation of an offer to buy any of the Company's securities,
nor shall such securities be offered or sold in the United States
absent registration or an applicable exemption from registration,
nor shall there be any offer, solicitation or sale of any of the
Company's securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of such state or
jurisdiction.
Contact:Tom MasteronEmail: tmasterson@allelecomms.com
[1]
https://www.prnewswire.com/news-releases/global-attention-deficit-hyperactivity-disorder-adhd-market...
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