Published on June 17, 2009 at 7:56 PM
Circadian Technologies Limited (ASX:CIR) announced today that its subsidiary company, Vegenics Limited, has been granted European Patent 1749836 covering the use of VEGF-D protein and antibodies to VEGF-D in a broad spectrum of therapeutic indications, including the treatment of cancer.
VEGF-D, a major novel target for cancer and other diseases, is closely related to VEGF-A, the target of Genentech's Avastin®, a leading cancer therapy with worldwide sales in excess of US$6 billion.
This European patent together with the VEGF-D patent granted in the United States last year provides Circadian with a major commercial advantage and access to the world's two largest markets.
Circadian is currently developing its VGX-200 series of humanised VEGF-D antibodies as anti-cancer agents.
"Stemming from the enormous success of Avastin®, the development of antibody drugs targeting angiogenic molecules such as VEGF-D is widely considered one of the most promising strategies in the pharmaceutical industry," commented Circadian CEO, Mr Robert Klupacs. "This patent adds to our considerable estate of intellectual property covering VEGF family members, in particular building on the US patent granted to us last year covering VEGF-D antibodies. It is an important protection for our internal therapeutics development programs and represents a major asset for commercial partnerships with other companies seeking to pursue this approach."
Vegenics owns worldwide rights to an extensive intellectual property portfolio covering angiogenesis targets VEGF-D, VEGF-C and the receptor protein VEGFR-3.
Mr Klupacs added, "The grant of this patent is another successful step in Circadian's execution to become a leading developer of therapeutic antibody drugs for cancer."
http://www.circadian.com.au