Oligomerix Announces Issuance of Key U.S. Patent for Lead Tau-Targeting Candidate OLX-07010 to Treat Neurodegenerative Diseases
WHITE PLAINS, N.Y.--(BUSINESS WIRE)--Jan 5, 2023--
Oligomerix, Inc., a privately held company pioneering the development of small molecule therapeutics targeting tau for rare neurodegenerative and Alzheimer’s diseases, today announced that the U.S. Patent and Trademark Office (USPTO) issued U.S. patent 11,472,776 (the ’776 patent) titled, “Novel Quinazolinones that Inhibit the Formation of Tau Oligomers.” The ’776 patent further strengthens the company’s intellectual property position and coverage for their tau oligomer formation inhibitors and provides product protection for Oligomerix’s lead clinical candidate, OLX-07010, including composition of matter and methods of use until October 2037.
“We are very pleased that the USPTO has issued this important patent allowing us to build on our existing patent estate in a thoughtful and strategic manner,” said William Erhardt, M.D., President and Head of Development & Operations at Oligomerix. “With this patent in place, we have enhanced the value of our portfolio, including our lead candidate OLX-07010 which will begin first-in-human clinical trials soon.”
According to the Alzheimer’s Association, more than 6.5 million Americans suffer from AD. By 2050, this number is expected to increase dramatically to 12.7 million. Furthermore, the current cost for AD is $321 billion and projected to be more than $1 trillion by 2050. OLX-07010 would potentially fill a significant unmet need with a disease-modifying drug that, if successful, will have a tremendous impact on patient outcomes and reduce the burden on caregivers and society.
“The issuance of the ’766 patent supports our continued work aimed at blocking tau self-association to prevent downstream damage associated with neurodegeneration and dementias,” said James Moe, Ph.D., MBA, CEO and Head of Discovery and Strategy at Oligomerix.
OLX-07010 is an oral, small molecule inhibitor of tau self-association that targets the beginning of the tau aggregation cascade, a process believed to be implicated in the development of Alzheimer’s disease and other neurodegenerative disorders. Oligomerix’s lead candidate has demonstrated efficacy in multiple animal models of tau-mediated neurodegeneration. Phase 1a first-in-human clinical studies are expected to be initiated in the near term.
About Oligomerix, Inc.
Oligomerix is an emerging clinical-stage biotechnology company focused on developing disease-modifying therapeutics for neurodegenerative diseases characterized by aberrant tau protein ranging from rare tauopathies such as progressive supranuclear palsy and frontotemporal dementia to Alzheimer’s disease.
Oligomerix discovers and develops differentiated, oral, small molecule inhibitors of tau self-association that are potentially easy to administer and cost-effective. Oligomerix’s portfolio of compounds is expected to provide a potentially lower-cost treatment alternative or complement the newly emerging high-cost therapeutic options such as monoclonal antibody products.
Oligomerix is headquartered at the Westchester Park Center in White Plains, New York and has lab facilities at the Ullmann Research Center for Health Sciences within the Albert Einstein College of Medicine. Follow Oligomerix on LinkedIn.
Oligomerix is seeking strategic partnerships to support the acceleration and advancement of these important programs. For more information about Oligomerix, please visit our website at https://oligomerix.com/.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230105005011/en/
CONTACT: Company Contacts:
Chief Commercial Officer
email@example.comWilliam Erhardt, M.D.
President & Head of Development & Operations
Berhardt@Oligomerix.comJames Moe, Ph.D., MBA
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: SCIENCE NEUROLOGY BIOTECHNOLOGY RESEARCH PHARMACEUTICAL GENERAL HEALTH HEALTH GENETICS
SOURCE: Oligomerix, Inc.
Copyright Business Wire 2022.
PUB: 01/05/2023 08:30 AM/DISC: 01/05/2023 08:32 AM