On July 5, 2017 Oxis International, Inc. (OTCQB: OXIS and Euronext Paris OXI.PA), parent of Oxis Biotech, reported that the U.S. Patent and Trademark Office has approved and issued Patent No. 9,580,382 for its drug candidate OXIS-4235 for the treatment of myeloma (Press release, OXIS International, JUL 5, 2017, View Source [SID1234539562]).
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The USPTO also requires that products made or sold under the patent be marked with the statement "Patent No. 9,580,382."
The patent clears the way for Oxis Biotech to begin the process of pursuing clinical trials for OXIS-4235. The drug is a P62-ZZ chemical inhibitor intended for use as a treatment for multiple myeloma. According to the American Cancer Society, more than 30,000 people are expected to be diagnosed with the disease this year and more than 12,000 are expected to die from it.
Dr. Sean Xie of Pittsburgh, Pa., developed the drug. The drug is intended to stop the growth of multiple myeloma cells without harming healthy cells. In addition to shrinking the tumors, the dual purpose drug is also intended to increase bone density, a second benefit of the technology.
Oxis Biotech, through its licensing agreement with Dr. Xie, holds the exclusive worldwide rights to commercialize this technology.
CEO, Anthony Cataldo, said, "Patents are one of the major build blocks of market cap appreciation. Oxis continues to show progress with it’s oncology product pipeline. The issuance of patents that support the products in our portfolio, allows us to move these assets into commercially driven clinical trials with the market protections that issued patents provide." With the most recent announcement of the Oxis merger with Georgetown Translational Pharmaceuticals, Inc. (GTP), GTP brings in highly successful Executive Management, CEO, Kathleen Clarence-Smith, MD, Ph.D., and her team, are able to advance Oxis’ patented portfolio in oncology.