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Faron Pharmaceuticals (LON: FARN) said on Friday that it has signed a sub-license agreement for the rights to a US patent related to Traumakine.
The US patent US9,376,478 currently extends to 2033. The agreement clarifies Faron's intellectual property position in the US ahead of any launch of Traumakine to treat capillary leak and systemic inflammatory response syndromes (SIRS), including acute respiratory distress syndrome (ARDS) in the US.
Faron said it will pay a small signing fee and single-digit standard market royalties from future sales of IFN beta-1a (Traumakine).
The sub-license covers a manufacturing patent valid only in the US and adds to Faron's existing patent portfolio for Traumakine, including use and IV formulation patents and market exclusivity in Europe as an orphan medicine.
“We continue to believe in Traumakine's potential as a much-needed new treatment for respiratory failure and organ protection,” said Dr Markku Jalkanen, Faron's CEO.
“The administration of IFN is likely to benefit patients and relieve them from the hyper-inflammatory state that leads to severe disease. We believe intravenous administration of IFN-beta is the optimal route to compensate for this loss of first-line viral defence and, in tandem induce CD73 a critical enzyme in organ protection during severe illness,” added Jalkanen.
Faron Pharmaceuticals share price is currently trading at 345p, up 3.76% from Thursday's close.
Faron Pharmaceuticals shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Faron Pharmaceuticals shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
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