Redwood Pharma's licensor, Broda Technologies, has been granted an additional patent in the US regarding the IntelliGel drug delivery platform. The new patent is maximally valid until 21 March 2031 and represents additional protection of IntelliGel, which in turn becomes even more commercially attractive in the US market for prescription-based pharmaceuticals applied to the eye. The US market in 2015 was valued at USD 4.3 billion.
The IntelliGel drug delivery platform is unique, allowing for pharmaceuticals to be released over a longer duration, possibly at lower dosing frequencies. This makes it easier and more comfortable for patients take their medication, thereby improving compliance. This may also result in fewer side effects and a reduction in the amount of active substance needed.
The new patent for IntelliGel, US patent 9,592,295, will be granted on March 14 and expands the opportunities in the large US market for Redwood Pharma's lead pharmaceutical development project RP101. Furthermore, the attractiveness of the Company as a development and commercial partner has increased significantly in conjunction with the patent. In the future, the Company hopes that many more products can take advantage of the IntelliGel system to control the release of active substances, thereby optimizing dosing.
The US market for prescription-based medicines for the treatment of glaucoma, infections, allergies and dry eye were valued in 2015 at USD 4.3 billion. Within these disease areas are established and new products where IntelliGel could provide significant advantages to patients.
"The patent reduces our commercial risks and we increase the value of our asset in the US market, the largest global market for medicines. One of the most important underlying needs in a licensing agreement or trade sale is solid patent protection. IntelliGel is an important part of our lead development project RP101 that will treat post-menopausal women with chronic dry eye disease. The increased patent protection signifies that even more value in Redwood Pharma can now materialize", says CEO Martin Vidaeus.
This information is information that Redwood Pharma AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at March 2, 2017.