Prana Biotechnology (PBT) announced that the United States Patent and Trademark Office (USPTO) has issued a Notice of Allowance for a composition of matter patent for selected 8-hydroxy quinazolinone compounds, including its lead Parkinson’s Disease(PD) drug candidate, PBT434, in the United States. The patent entitled ‘Neurologically Active Compounds’ also covers pharmaceutical compositions containing PBT434 andselected 8-hydroxy quinazolinone compounds. Once granted, the United States patent has a twenty year term expiring June 7, 2026. This expiry date may in the future be further extended by the application of pharmaceutical extension of term provisions of up to five years in the United States.
Geoffrey Kempler, Prana’s CEO, said “securing granted rights to our lead PD drug candidate furthers our commercialization plans for PBT434 for which Prana was recently awarded a grant from The Michael J. Fox Foundation to undertake preclinical development studies to enable human clinical trials”.
Prana Biotechnology was established to commercialise research into Alzheimer’s Disease and other major age-related neurodegenerative disorders. The Company was incorporated in 1997 and listed on the Australian Securities Exchange in March 2000 and listed on NASDAQ in September 2002. Researchers at prominent international institutions including The University of Melbourne, The Mental Health Research Institute (Melbourne) and Massachusetts General Hospital, a teaching hospital of Harvard Medical School, contributed to the discovery of Prana’s technology.