LA JOLLA, Calif., May 12, 2020 (GLOBE NEWSWIRE) -- Artelo Biosciences, Inc. (NASDAQ: ARTL), a clinical stage biopharmaceutical company focused on developing proprietary therapeutics that target the endocannabinoid system and related biological signaling pathways, today announced that the U.S. Patent and Trademark Office has issued a “composition of matter” patent with claims covering ART12.11, the Company’s cocrystal, solid form of CBD (cannabidiol) and TMP (tetramethypyrazine). The new U.S. patent, No. 10,604467 for “Solid Forms of Cannabidiol and Uses Thereof,” provides intellectual property protection for ART12.11 until December 10, 2038.
Artelo’s approach to achieving patent protection for a novel CBD composition was to create a cocrystal. Cocrystalization is a proven pharmaceutical development strategy and follows FDA guidance for chemicals with properties similar to CBD.
“We started our research for a cocrystal of CBD in 2017 and are fortunate to now be at the forefront of this approach,” said Gregory D. Gorgas, Artelo’s President and CEO. “Cocrystals are not only expected to retain the therapeutic profile of a compound, they are intended to improve the drug-like properties of solid-dosage forms such as bioavailability, stability, absorption and consistency. These properties, in turn, can lead to a product candidate with better efficacy and safety,” added Mr. Gorgas.
This composition of matter patent validates the approach of developing a novel CBD product candidate targeting large indications, such as PTSD and inflammatory bowel disease, and, if approved by FDA, can form the basis for market exclusivity through the end of 2038.
About Artelo Biosciences
Artelo Biosciences, Inc. is a San Diego-based biopharmaceutical company dedicated to the development and commercialization of proprietary therapeutics targeting the endocannabinoid system and related biological signaling pathways. Artelo is rapidly advancing a portfolio of broadly applicable product candidates designed to address significant unmet needs in multiple diseases and conditions, including anorexia, cancer, pain, and inflammation. Led by proven biopharmaceutical executives collaborating with highly respected researchers and technology experts, the company applies leading edge scientific, regulatory, and commercial discipline to develop high-impact therapies.
Forward Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and Private Securities Litigation Reform Act, as amended, including those relating to the Company’s product development, clinical and regulatory timelines, market opportunity, competitive position, possible or assumed future results of operations, business strategies, potential growth opportunities and other statement that are predictive in nature. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management’s current beliefs and assumptions. These statements may be identified by the use of forward-looking expressions, including, but not limited to, “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “potential,” “predict,” “project,” “should,” “would” and similar expressions and the negatives of those terms. These statements relate to future events or our financial performance and involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include those set forth in the Company’s filings with the Securities and Exchange Commission, including our ability to raise additional capital in the future. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by applicable securities laws.
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