QUARTERLY UPDATE: AtheroNova (AHRO-OTC) Receives Key Patent Allowance
Novel biotech company AtheroNova Inc. (AHRO-OTC) made a significant news announcement last week when it reported the receipt of a Notice of Allowance from the U.S. Patent and Trademark Office (USPTO) for its main patent. The Notice of Allowance entailed written communication from the USPTO to AtheroNova that the Company’s primary patent was allowable. A Notice of Allowance specifies the amount of issue and/or publication fees that are due within three months in order to avoid abandonment of the applications (Source: USPTO). Accordingly, AtheroNova expects to announce the official patent issuance within the next few months once the registration process is complete.
This is big news for the Company, as it is poised to enter Phase I development of its lead product candidate--a compound designed to actually remove plaque buildup from your arteries, unlike most products today. As excerpted from our Quarterly Update released today:
"Using a unique approach, AHRO-001 is intended to dissolve existing atherosclerotic plaques as well as prevent the formation of new ones. The Company seeks to market its product against currently approved therapies, which merely stabilize the disease. It is this potential for plaque regression that AtheroNova believes could distinguish AHRO-001 from other atherosclerosis treatments on the market and candidates in development."
Today's Quarterly Update on AtheroNova from Crystal Research Associates offers greater details of AHRO-001 as well as discusses the impact of the USPTO's Notice of Allowance and the Company's progress under its agreements with Maxwell Biotech Group and Frontage Laboratories, Inc.
Patent News
The Notice of Allowance was received for AtheroNova’s U.S. patent application #12/024,908 “Dissolution of Arterial Plaque Using Hyodeoxycholic Acid (HDCA).” This patent is key to AtheroNova’s continued development efforts, as it protects the Company’s method of treating atherosclerosis using a bile acid. AtheroNova has worked toward the issuance of a patent covering the use of HDCA for atherosclerotic plaque lesions for over five years.
The Company has stated that receiving the Notice of Allowance for its “Dissolution of Arterial Plaque” patent supports development of AHRO-001, which is rapidly advancing into Phase I clinical trials. AtheroNova plans to commence Phase I during late 2012.
In addition, with the receipt of application #12/024,908, the Company can move forward with additional pipeline candidates in the AHRO family, as described in its patent applications. For instance, beyond development of AHRO-001, AtheroNova expects to employ its intellectual property to develop multiple pharmaceutical-grade applications for its compounds, potentially in the areas of obesity, hypertension, diabetes, PAD, localized transdermal fat dissolution, and the non-invasive dissolution of lipomas.