LOS ANGELES, California, June 18 /PRNewswire-FirstCall/ -- Canopus BioPharma, Inc. (OTC: CBIA), a biotechnology company developing pharmaceutical products and assay methods for patients suffering from infectious disease, radiation sickness, cancer and addiction, today announced the signing of a licensing agreement with the Wisconsin Alumni Research Foundation (WARF), an organization serving the University of Wisconsin-Madison scientific community by patenting the discoveries of UW-Madison researchers and licensing these technologies to leading companies in Wisconsin, the United States and worldwide. The agreement provides comprehensive licensing rights and patent protection relating to Canopus' Phase II oncology drug candidate, CB1400.
"Securing the rights to the WARF patents strengthens Canopus BioPharma's intellectual property position for future licensing opportunities of CB1400, one of our most exciting products," said Patrick Prendergast, Chairman and Chief Executive Officer of Canopus BioPharma. "In the near future, we expect to announce important results from our studies using CB1400, which will further validate the potential significance of our drug for oncology and related indications."
Canopus BioPharma expects to develop CB1400 as a method for preventing and reducing mucositis (lesions in the gastrointestinal and oral mucosa caused by chemo- and/or radiotherapy). The domestic market alone for a preventative anti-mucositis agent is estimated to be over $1 billion per annum. The compound underlying CB1400 had been previously developed and patented by a major pharmaceutical company as an anti-parasitic agent. Canopus discovered that this approved drug was highly effective for an alternative indication, specifically for use in preventing mucositis. Canopus BioPharma's market opportunity with CB1400 includes various applications associated with cancer therapy and cancer treatment side effects.
CB1400, a former anti-schistosomal drug, is currently in phase II clinical development by Canopus as an anti-mucositis preventative agent in patients receiving radio- and/or chemotherapy treatment. CB1400 alone and in combination with both cisplatin and cetuximab (Erbitux), has also been shown to inhibit tumor growth in two mice models of lung cancer, thus demonstrating the broad capabilities of this compound in the treatment of cancer.
About the Wisconsin Alumni Research Foundation:
The Wisconsin Alumni Research Foundation (WARF) supports research at the University of Wisconsin-Madison by protecting the intellectual property of University faculty, staff and students, and licensing inventions resulting from their work. Through these efforts, university ideas benefit the public by bringing resources back to the university to continue the cycle of investment, research and invention. WARF (http://www.warf.org) was established in 1925 as the first university-based technology transfer office in the world.
About Canopus BioPharma, Inc.:
Canopus BioPharma, Inc. (OTC: CBIA) is dedicated to providing the safest, most cost effective and efficacious pharmaceutical products and assay methods in the areas of infectious disease, radiation protection, cancer, and addiction. With innovative science, proven research and development leadership, and superior products and compounds, Canopus BioPharma has, since 2001, been committed to becoming a market trend setter in a new era of healthcare. In addition, the Company is a world leader in the development of novel camelid antibody products to provide unique avenues of progress and improvement in assay methods and monitoring capabilities for physicians, patients and researchers, initially for food chain protection applications. Canopus maintains staff in Australia, South Africa, Ireland, Panama and the USA. Additional information on the Company is available at http://www.canopusbiopharma.com.
|SOURCE Canopus BioPharma, Inc.|
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