SAN DIEGO, Jan. 23, 2013 /PRNewswire/ -- Neurocrine Biosciences, Inc. (NASDAQ: NBIX) announced today that two additional patents have been granted related to the Company's proprietary Vesicular Monoamine Transporter 2 inhibitor (VMAT2) NBI-98854.
European Patent Number 2,081,929 was granted in January 2013 by the European Patent Office with an expiration date of November 2027. This patent covers chemical compositions, pharmaceutical compositions and uses of various compounds including our Phase IIb clinical candidate NBI-98854.
In addition to the already issued composition of matter patent, the United States Patent and Trademark Office recently granted a second patent for NBI-98854. United States Patent Number 8,357,697 covers the method of treating hyperkinetic movement disorders using NBI-98854 and will expire in November 2027. This patent is in addition to the previously issued United States Patent Number 8,039,627 which covers the NBI-98854 composition and expires in late 2029.
"We are very pleased to receive this composition of matter patent from the European Patent Office," said Kevin C. Gorman, Chief Executive Officer of Neurocrine Biosciences. "This EU patent, coupled with our new United States methods of use patent, and the existing United States composition of matter patent provide a strong intellectual property estate around NBI-98854. We intend to continue to expand our VMAT2 patent footprint on NBI-98854 and our other VMAT2 inhibitors in early development."
VMAT2 is a protein concentrated in the human brain that is primarily responsible for re-packaging and transporting monoamines (dopamine, norepinephrine, serotonin, and histamine) among nerve cells. NBI-98854, developed in the Neurocrine laboratories, is a novel, highly-selective VMAT2 inhibitor that modulates dopamine release during nerve communication, while at the same time having minimal impact on the other monoamines or other receptors thereby reducing the likelihood of "off target" side effects. NBI-98854 is designed to provide low, sustained, plasma and brain concentrations of active drug to minimize side effects associated with excessive dopamine depletion.
NBI-98854 may also be useful in other disorders such as Huntington's chorea, schizophrenia, Tourette's syndrome, and tardive dystonia.
About Neurocrine Biosciences
Neurocrine Biosciences, Inc. is a biopharmaceutical company focused on neurological and endocrine diseases and disorders. Our product candidates address some of the largest pharmaceutical markets in the world, including endometriosis, tardive dyskinesia, uterine fibroids stress-related disorders, pain, diabetes, insomnia, and other neurological and endocrine-related diseases and disorders. Neurocrine Biosciences, Inc. news releases are available through the Company's website via the internet at http://www.neurocrine.com.
In addition to historical facts, this press release may contain forward-looking statements that involve a number of risks and uncertainties. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with Neurocrine's business and finances in general, as well as risks and uncertainties associated with the Company's VMAT2 program and Company overall. Specifically, the risks and uncertainties the Company faces with respect to the Company's VMAT2 program include, but are not limited to; risk that NBI-98854 will not proceed to later stage clinical trials and risk that the Company's clinical trials will fail to demonstrate that NBI-98854 is safe and effective. With respect to its pipeline overall, the Company faces risk that it will be unable to raise additional funding required to complete development of all of its product candidates; risk relating to the Company's dependence on contract manufacturers for clinical drug supply; risks associated with the Company's dependence on corporate partners for development, commercial manufacturing and marketing and sales activities for the Company's partnered programs; uncertainties relating to patent protection and intellectual property rights of third parties; risks and uncertainties relating to competitive products and technological changes that may limit demand for the Company's products; and the other risks described in the Company's report on Form 10-K for the year ended December 31, 2011 and on Form 10-Q for the quarter ended September 30, 2012. Neurocrine undertakes no obligation to update the statements contained in this press release after the date hereof.
SOURCE Neurocrine Biosciences, Inc.