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Viteava Pharmaceuticals Executes Worldwide Exclusive License
Date:11/19/2013

TORONTO, Nov. 19, 2013 /PRNewswire-iReach/ -- Viteava Pharmaceuticals Inc. announced the execution of an exclusive worldwide license to an intellectual property portfolio claiming composition of matter and/or methods of use of novel analogs and derivatives of the green tea flavonoid, (-)epigallocatechin-3-gallate (EGCG). This intellectual property resulted from a long-standing collaboration between Professor Tak-Hang Chan of McGill University and the Hong Kong Polytechnic University, and Professor Q. Ping Dou of Wayne State University and the Karmanos Cancer Institute. The intellectual property portfolio is owned by McGill University, Wayne State University, the University of South Florida, the Moffitt Cancer Center, and the Hong Kong Polytechnic University. Patents have been issued in the U.S., Japan and China and are pending in other international jurisdictions.

(Photo: http://photos.prnewswire.com/prnh/20131119/MN19612)

Viteava Pharmaceuticals is a privately-held start-up drug development company established to commercialize this intellectual property portfolio. "Negotiating and executing this license agreement with multiple leading institutions was an important achievement and critical to advancing several exciting drug candidates discovered in the academic setting," said Robert Foldes, Viteava's founder and CEO.

"I am very excited to work together with Viteava Pharmaceuticals to move towards the clinic drug candidates designed through a deep understanding of structure-activity relationships involving the EGCG pharmacophore that my laboratory has researched for many years," said Professor Chan. "We have been working diligently to translate the well-established health benefits of green tea and its major active ing
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SOURCE Viteava Pharmaceuticals Inc.
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