Osteologix, Inc. announced this morning that is has received a Notice of Allowance from the U.S. Patent and Trademark Office for its U.S. Patent Application titled “Water-Soluble Strontium Salts for Use in Treatment of Cartilage and/or Bone Conditions.” The allowance of claims covers the treatment of osteoporosis and related bone conditions using NB S101 (strontium malonate), the Company’s lead osteoporosis drug candidate.
The company anticipates that the patent will be issued in the second half of 2009. According to the press release, the patent’s 20-year term would expire in 2024. Additionally, the company has a number of other pending patent applications covering various aspects of the NB S101 drug program including composition, manufacturing and method of use patent applications.
“Based on the Notice of Allowance and the claims allowed by the USPTO, we believe the intellectual property protections established by this US patent allowance, coupled with our recently upheld European equivalent, will significantly enhance our ability to finalize strong development collaborations with potential partners to complete the Phase III development of NB S101 in osteoporosis,” commented Philip J. Young, President and Chief Executive Officer of Osteologix.