Osteologix, Inc., a specialty biopharmaceutical company committed to improving the health of those afflicted with musculoskeletal diseases, yesterday announced that the company has been informed that a positive decision was made in Japan to grant a patent for a key osteoporosis drug. The Japan Patent Office (JPO) has issued Osteologix, Inc. a decision to grant a patent for application number 2006-504379: â€œTreating Cartilage/Bone Conditions with Water-Soluble Strontium Salts.â€
The patent is for NB S101 (strontium malonate), the companyâ€™s lead osteoporosis drug candidate. Osteologix expects that the patent will be issued by the end of 2009 with a 20-year term that will expire in 2024. Osteologix has now received patent protection for its novel osteoporosis therapy in the three major pharmaceutical markets, including Europe, the United States and Japan.
Philip J. Young, the president and CEO of Osteologix, stated, â€œWe believe the intellectual property protections established by this patent in Japan, combined with our U.S. and European equivalents, will enable us to maximize the value of NB S101 in the most important pharmaceutical markets around the globe.â€