Novare Pharmaceuticals Announces The Issuance Of A U.S. Patent For Its RHAMM-Binding Peptides

• The patent covers the composition of RHAMM-Binding peptides as well as the use of peptides for diagnosing, and determining the prognosis for, cancer patients. The issuance of this patent is a significant milestone for Novare, which has an exclusive license to the patented technology.

BOSTON--(BUSINESS WIRE)--Novare Pharmaceuticals today announced that the U.S. Patent and Trademark Office issued patent #9,090,659, with claims covering the composition-of-matter and use of RHAMM-binding peptides with a wide range of potential therapeutic uses. The patent also has claims for the diagnosis and prognosis of cancer, and for prescribing a course of treatment for the diagnosed cancer.

“The issuance of this patent is a major step forward for our research”

Novare is developing therapeutic products that modulate the Receptor for Hyaluronan-Mediated Motility (RHAMM), a cellular protein that helps to regulate cell movement and stem cell differentiation. Novare’s RHAMM-based therapeutic products aim to safely and selectively stimulate cell differentiation as well as reduce destructive inflammation and scarring. Potential applications include the treatment of osteoarthritis, lung fibrosis, and several types of cancers such as lung, breast, prostate, and brain, as well as the prevention or reduction of tissue scarring.

The patent was issued to Lawson Health Research Institute, and names Drs. Leonard G. Luyt, Eva A. Turley and Mr. Kenneth V. Esguerra as the inventors. Novare, which has an exclusive, worldwide license to the patented technology, operates a research incubator within the London Regional Cancer Program under the direction of Drs. Turley and Luyt. Lawson is the research institution of London Health Sciences Centre and St. Joseph’s Health Care London located in Ontario, Canada.

”We are pleased to have reached this significant milestone as it allows us to move forward with pharmaceutical compositions for the treatment of several major diseases, including cancer,” said Dr. Turley, who also serves as Chief Scientist for Novare.

The patent also includes imaging methods to detect pathogenic cells, methods that can be applied to prognosis, and covers the prescription of a course of treatment based on an individual patient’s diagnosis and prognosis.

“The issuance of this patent is a major step forward for our research,” said Mike Delmage, Chief Executive Officer of Novare. “This new patent supports the therapeutic use of our RHAMM-binding peptides in progressive disease. It also provides Novare with a complete package for diagnosis, prognosis, and therapeutic treatment, all based on RHAMM binding. The work we are doing around positioning the RHAMM-binding peptides that can control inflammatory disease and cancerous tumors is a key differentiator for us.”

For more information about Novare’s research, see www.novarepharma.com. The company is a subsidiary of Boston-based Allied Minds (LSE: ALM).

About Novare Pharmaceuticals

Novare Pharmaceuticals develops therapeutic products that help the body replenish and rebuild itself using its own tissue. By modulating RHAMM, a natural protein that alters migratory cell behavior, Novare is at the forefront of finding treatments for a wide variety of inflammatory conditions, from arthritis to fibrotic diseases including Bronchopulmonary Dysplasia (BPD) in premature infants and Idiopathic Pulmonary Fibrosis (IPF). RHAMM modulation also provides a means of tissue engineering that may allow the regeneration and reconstruction of women’s breasts after a mastectomy, and may also offer opportunities in the aesthetics market. More information about the company can be found on its website, www.novarepharma.com

About Lawson Health Research Institute

As the research institute of London Health Sciences Centre and St. Joseph's Health Care London, and working in partnership with Western University, Lawson Health Research Institute is committed to furthering scientific knowledge to advance health care around the world. Patenting and commercialization for Lawson is handled through WORLDiscoveries® (www.worldiscoveries.ca), a joint venture between Lawson and Western. As the business development arm of London, Ontario’s extensive research network, WORLDiscoveries® is a bridge between local invention and global industry. www.lawsonresearch.com

About Allied Minds

Allied Minds (LSE: ALM) is an innovative U.S. science and technology development and commercialization company. Operating since 2006, Allied Minds forms, funds, manages and builds products and businesses based on innovative technologies developed at leading U.S. universities and federal research institutions. Allied Minds serves as a diversified holding company that supports its businesses and product development with capital, central management and shared services. More information about the Boston-based company can be found at www.alliedminds.com

Allied Minds Forward-Looking Statement

This press release contains statements that are or may be forward-looking statements, including statements that relate to the company’s future prospects, developments and strategies. The forward-looking statements are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results, performance and achievements to differ materially from current expectations, including, but not limited to, those risk and uncertainties described in the risk factors included in the company’s regulatory filings. These forward-looking statements are based on assumptions regarding the present and future business strategies of the company and the environment in which it will operate in the future. Each forward-looking statement speaks only as at the date of this press release. Except as required by law, regulatory requirement, the Prospectus Rules, the Listing Rules and the Disclosure and Transparency Rules, neither the company nor any other party intends to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.