SYDNEY, May 19, 2021 /PRNewswire/ -- Australian antiviral drug development company, Island Pharmaceuticals Ltd (ASX: ILA) is pleased to announce that a key patent relating to the Company's lead program, ISLA-101, has been granted by the United States Patent & Trademark Office. ISLA-101 is a drug with a very well-known safety profile, being repurposed for mosquito borne viruses.
The US patent grant was issued on 18 May 2021 (US time) under US Patent No US 11,007,160 and has an expiration date of 16 April 2034. Island has licensed the IP portfolio, generated by Monash University.
Executive Chairman of Island, Dr Paul MacLeman commented, "The grant of the US patent is a significant development for Island Pharmaceuticals. Mosquito borne viruses, such as dengue, Zika and others represent major unmet medical needs throughout the world and about 3 billion people – or 40% of the world's population – live in areas with a risk of dengue[2]. Having an allowed patent that protects Island's lead program in this large market provides protection for the development of ISLA-101 and further underpins our ability to advance the program in the US – a key target market."
Dengue fever is often seen as predominantly a disease of developing countries. However, global warming has meant that mosquitoes carrying dengue are travelling further, and in the last few years, rising case numbers have been recorded in Florida and, as recently as 2019, in North Queensland. Hundreds of cases per annum have been seen in recent years in FIFO workers in West Australian mines. Dengue is endemic in much of Asia, the South Pacific, South America, Central America and Africa. Around 390 million humans are infected each year, representing a significant unmet need and opportunity.
[1] Source: https://www.who.int/news-room/fact-sheets/detail/vector-borne-diseases |
[2] Source: https://www.cdc.gov/dengue/index.html |
About Island Pharmaceuticals (ASX: ILA)
Island is clinical-stage drug repurposing company, focused on the rapid development of antiviral therapeutics for infectious diseases. Our lead asset is ISLA-101, a drug with a well-established safety profile, being repurposed for the prevention and treatment of dengue fever and other mosquito (or vector) borne diseases. The Company is advancing toward a Phase II clinical trial in dengue-infected subjects.
If ISLA-101 achieves FDA approval, and certain other criteria are met, Island may be eligible to obtain a "Priority Review Voucher" at the time of FDA approval. This means that as well as getting approval to manufacture and sell ISLA-101, the Priority Review Voucher (PRV) will permit Island to expedite the FDA approval process for a new drug, or sell the PRV in a secondary market. Recent transactional benchmarking suggests that PRVs attract US$75m-$150m.
Island encourages all current investors to go paperless by registering their details with the Company's share registry, Automic Registry Services, whose contact info is housed on the Shareholder Services page of the Company's website.
Visit www.islandpharmaceuticals.com for more info.
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