AVEO Oncology Announces Receipt of USPTO Notice of Allowance Related to AV-353
May 08 2017 - 7:00AM
Business Wire
AVEO Oncology (NASDAQ: AVEO) today announced that it received a
Notice of Allowance from the United States Patent and Trademark
Office (USPTO) for U.S. patent application number 14/653,684,
entitled "notch binding agents and antagonists and methods of use
thereof." Allowed under the application are composition of matter
and method of use claims related to the Company's humanized
anti-Notch 3 antibodies, including AV-353. The U.S. patent
scheduled to issue from this application will expire December 19,
2032, with the potential for extension to December 19, 2037.
AV-353 is a potent inhibitory antibody specific to Notch 3, a
pathway implicated in multiple diseases, including Pulmonary
Arterial Hypertension (PAH). In preclinical studies, AV-353 has
demonstrated the ability to potentially reverse the PAH disease
phenotype, which would represent a potential disease-modifying
approach to treatment. PAH is a rare and life-threatening disorder
that affects approximately 250,000 people worldwide and is caused
by enlargement of the arterial walls in small arteries between the
heart and the lungs, resulting in restricted blood flow.
“AV-353’s disease modifying properties have the potential to
transform the future treatment of PAH, a debilitating disorder for
which current therapies target only symptoms,” said Michael Bailey,
president and chief executive officer of AVEO. “AV-353’s
selectivity and high affinity to Notch 3, which are unique from
other approaches targeting the Notch pathway, have enabled us to
build an increasingly broad patent estate around the program.
Consistent with our strategic focus on oncology, we continue to
engage with potential partners around the worldwide development of
this important therapeutic candidate.”
About AVEO
AVEO Oncology (AVEO) is a biopharmaceutical company dedicated to
advancing a broad portfolio of targeted therapeutics for oncology
and other areas of unmet medical need. The Company is focused on
seeking to develop and commercialize its lead candidate tivozanib,
a potent, selective, long half-life inhibitor of vascular
endothelial growth factor 1, 2 and 3 receptors, in North America as
a treatment for renal cell carcinoma and other cancers. AVEO is
leveraging multiple partnerships aimed at developing and
commercializing tivozanib in oncology indications outside of North
America, and at progressing its pipeline of novel therapeutic
candidates in cancer and cachexia (wasting syndrome). For more
information, please visit the company’s website at
www.aveooncology.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements of AVEO
that involve substantial risks and uncertainties. All statements,
other than statements of historical fact, contained in this press
release are forward-looking statements. The words “anticipate,”
“believe,” “expect,” “intend,” “may,” “plan,” “could,” “should,”
“seek,” or the negative of these terms or other similar
expressions, are intended to identify forward-looking statements,
although not all forward-looking statements contain these
identifying words. These forward-looking statements include, among
others, statements about: the qualities, uniqueness, expected
benefits and potential of AV-353; the potential for AV-353 to be a
disease-modifying treatment; the potential for AV-353 to transform
treatment paradigms; AVEO’s plans to partner AV-353 and AVEO’s
focus on developing oncology therapeutics. Actual results or events
could differ materially from the plans, intentions and expectations
disclosed in the forward-looking statements that AVEO makes due to
a number of important factors, including risks relating to: AVEO’s
ability to enter into new partnerships and maintain its licensing
agreements, including for AV-353, and its ability, and the ability
of its licensees, to achieve development and commercialization
objectives under these arrangements; AVEO’s ability, and the
ability of its licensees, to demonstrate to the satisfaction of
applicable regulatory agencies the safety, efficacy and clinically
meaningful benefit of AVEO’s product candidates; AVEO’s ability to
successfully implement its strategic plans; AVEO’s ability to
successfully enroll and complete clinical trials of its product
candidates; AVEO’s ability to achieve and maintain compliance with
all regulatory requirements applicable to its product candidates;
AVEO’s ability to obtain and maintain adequate protection for
intellectual property rights relating to its product candidates and
technologies; developments, expenses and outcomes related to AVEO’s
ongoing shareholder litigation; AVEO’s ability to raise the
substantial additional funds required to achieve its goals;
unplanned capital requirements; adverse general economic and
industry conditions; competitive factors; and those risks discussed
in the section titled “Risk Factors” in AVEO’s most recent Annual
Report on Form 10-K, its quarterly reports on Form 10-Q and its
other filings with the SEC. The forward-looking statements in this
press release represent AVEO’s views as of the date of this press
release. AVEO anticipates that subsequent events and developments
may cause its views to change. While AVEO may elect to update these
forward-looking statements at some point in the future, it
specifically disclaims any obligation to do so. You should,
therefore, not rely on these forward-looking statements as
representing AVEO’s views as of any date other than the date of
this press release.
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version on businesswire.com: http://www.businesswire.com/news/home/20170508005361/en/
Argot PartnersDavid Pitts,
212-600-1902aveo@argotpartners.com
AVEO Pharmaceuticals (NASDAQ:AVEO)
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