- Noxopharm (NOX) secures European patent allowance for cancer treatment-enhancing drug candidate, Veyonda
- The drug has been developed to enhance the effectiveness and safety of standard oncology treatments
- If granted, the patent will cover the use of idronoxil in a suppository dosage formulation, covering treatment of all cancers for patients who have received or are receiving chemotherapy or radiotherapy
- The company believes the allowance indicates an intention to move to patent grant
- Shares are trading 6.7 per cent higher at 63.5 cents at 3:52pm AEST
Noxopharm (NOX) has secured European patent allowance for its first pipe-line drug candidate, Veyonda.
The drug has been developed to enhance the effectiveness and safety of standard
oncology treatments, but also provides an anti-inflammatory effect which contributes to anti-cancer action, and also potentially blocks septic shock.
The patent application relates to the therapeutic use of idronoxil in a suppository dosage formulation, intended to provide a steady-state blood level.
The notice of allowance of the claims pertaining to the patent application state that once, and if granted, the patent should cover the treatment of any cancer, with no limits to cancer type.
It also indicates that the patent should cover treatment of individuals who have received or are receiving any chemotherapy and/or radiotherapy.
Additionally, the patent term is set to run through to April 2037.
With this, the company said if the patent is granted around four years after filing, it will have enforceable rights for a further 16 years.
While currently in phase two clinical trialling, the company said being granted the patent allowance for the drug indicates an intention to move to patent grant.
CEO Graham Kelly said the allowance is validation of the company’s strategy of
building a strong IP position around Veyonda, based on a series of inter-connected patents.
“The interconnection is between method of administration and clinical use and removes the reliance on the strength of any single patent.”
Further, the company said a granted patent will help underpin its commercial aim of Veyonda becoming a standard of care method in combination to other major forms of cancer therapy including chemotherapy.
Shares were trading 6.7 per cent higher at 63.5 cents at 3:52pm AEST.