With great excitement, GENova Biotherapeutics, Inc., a biotechnology company that develops proteins to disrupt the advance of life-threatening diseases, recently announced that it is in the process of acquiring three promising new drug target patents that could generate over a billion dollar in royalty fees in the mid to long term.
Aaron Whiteman, CEO for GENova commented, “Following a rigorous evaluation phase, we have selected three potential blockbuster drug target patents for acquisition, and we look forward to integrating them into our IP portfolio.” GENova will announce details of these new biological products in the coming weeks.
The three new patents would join GENova’s current proprietary IP products — tetanolic acid (for breast cancer) and prostaganin (for prostate cancer). Tetanolic acid is a form of a lipid that has the demonstrated ability to affect the growth and proliferation of cells. Based onGENova’s successful preliminary tests in mice, GENova’s Tetanolic acid is a prime candidate for development of an anti-cancer medicament in humans. This development places the company in the bourgeoning breast cancer therapeutics market, which is expected to grow from its current level of US$5.9 billion to $11.5 billion by 2011.
The company’s proprietary peptide for prostate cancer, Prostaganin, demonstrates an ability to completely inhibit the growth of prostate tumour xenografts; therefore, GENova’s Prostaganin is another candidate with enormous potential. The current market for prostate cancer therapies amounts to US$1.5 billion. The company is positioned to capitalize on the ever-growing therapeutics market through their innovative developments.
GENova prides itself on leveraging cutting-edge research collaborations to achieve breakthroughs in anti-cancer treatments. The company licenses patented drug product candidates to big pharmaceutical and biotechnology companies such as Pfizer, Amgen, Myriad Genetics, Medarex, and Biogen Idec. For more information, please visit GENova online at www.genovabio.com