FreeOx Biotech has been granted a patent for its most advanced drug, Ox-01, by the United States Patent and Trademark Office (USPTO). The patent protects the use of Ox-01 until 2038 for patients with ischaemic stroke treated with mechanical thrombectomy.
“This grant is wonderful news for the company as it will allow us to strengthen our drug’s protection in a market representing approximately 50% worldwide in terms of returns and move forward with our regulatory plan with close communication with EMA” said Carlos Lurigados, co-founder and CEO of FreeOx.
Every year, more than 795,000 people in the United States have a stroke. Stroke-related costs in the United States came to $46 billion between 2014 and 2015. This includes the cost of health care services, medicines, and missed days of work.
Ox-01 is an innovative molecule that eliminates the high toxicity of peroxynitrite in the brain and prevents the damage caused by reperfusion. Ox-01 is currently in clinical phase III. In earlier pre-clinical and clinical trials, it has demonstrated very beneficial neuroprotective properties and synergies with respect to current treatments, significantly reducing permanent disability in patients with ischaemic stroke.