Navidea Biopharmaceuticals Announces Patent Extension for Lymphoseek®
December 07 2018 - 6:55AM
Business Wire
Navidea Biopharmaceuticals, Inc. (NYSE American: NAVB)
(“Navidea” or the “Company”), a company focused on the development
of precision immunodiagnostic agents and immunotherapeutics, today
announced that on November 23, 2018 the U.S. Food and Drug
Administration (“FDA”) released a letter to the U.S. Patent and
Trademark Office (“USPTO”) indicating that the USPTO is allowed to
extend the patent duration of U.S. patent 6,409,990 for an
additional 5 years or until May 12, 2025.
This patent claims Lymphoseek® (technetium (Tc 99m) tilmanocept)
and has been exclusively licensed with varying geographical and
medical indication coverages to Cardinal Health and Navidea.
Allowance of this patent extension will permit Cardinal Health and
Navidea to extend their exclusive rights to manufacture and
commercialize Lymphoseek until the end of the extended patent term
in 2025.
“I am pleased the FDA has taken positive action to extend the
Lymphoseek patent until May 12, 2025,” said Jed Latkin, CEO of
Navidea. “We are excited that this extension allows us to continue
advancing the science as Navidea prepares for the many other
indications for which Tilmanocept can be used.”
About Navidea
Navidea Biopharmaceuticals, Inc. (NYSE American: NAVB) is a
biopharmaceutical company focused on the development of precision
immunodiagnostic agents and immunotherapeutics. Navidea is
developing multiple precision-targeted products based on its
Manocept™ platform to enhance patient care by identifying the
sites and pathways of disease and enable better diagnostic
accuracy, clinical decision-making, and targeted treatment.
Navidea’s Manocept platform is predicated on the ability to
specifically target the CD206 mannose receptor expressed on
activated macrophages. The Manocept platform serves as the
molecular backbone of Tc99m tilmanocept, the first product
developed and commercialized by Navidea based on the platform. The
development activities of the Manocept immunotherapeutic platform
are being conducted by Navidea in conjunction with its subsidiary,
Macrophage Therapeutics, Inc. Navidea’s strategy is to deliver
superior growth and shareholder return by bringing to market novel
products and advancing the Company’s pipeline through global
partnering and commercialization efforts.
For more information, please visit www.navidea.com.
Forward-Looking Statements
This release and any oral statements made with respect to the
information contained in this release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. We have based these forward-looking statements
largely on our current expectations and projections about future
events and financial trends affecting the financial condition of
our business. These forward-looking statements are subject to a
number of risks, uncertainties and assumptions, including, among
other things: any future actions by Platinum-Montaur; general
economic and business conditions, both nationally and in our
markets; our history of losses and uncertainty of future
profitability; the final outcome of the CRG litigation in Texas and
Ohio; our ability to successfully complete research and further
development of our drug candidates; the timing, cost and
uncertainty of obtaining regulatory approvals of our drug
candidates; our ability to successfully commercialize our drug
candidates; our expectations and estimates concerning future
financial performance, financing plans and the impact of
competition; our ability to raise capital sufficient to fund our
development and commercialization programs; our ability to
implement our growth strategy; anticipated trends in our business;
advances in technologies; our ability to comply with the NYSE
American continued listing standards; and other risk factors
detailed in our most recent Annual Report on Form 10-K and other
SEC filings. You are urged to carefully review and consider the
disclosures found in our SEC filings, which are available
at www.sec.gov or at http://ir.navidea.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20181207005042/en/
Navidea Biopharmaceuticals, Inc.Jed Latkin, CEO,
614-973-7490jlatkin@navidea.comEdison AdvisorsJoseph Green,
646-653-7030jgreen@edisongroup.com
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