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SAN DIEGO, July 15, 2014 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) announced today that it was granted U.S. Patent No. 8,778,950, entitled "Cannabinoid Receptor Modulators," by the United States Patent and Trademark Office for APD371, an agonist of the cannabinoid receptor 2 (CB2). Arena is exploring several potential indications for APD371, including chronic pain, and is currently conducting a Phase 1 single-ascending dose trial.
"Intellectual property protection is an important element of our clinical-stage pipeline," said Jack Lief, Arena's President and Chief Executive Officer. "This patent provides us further confidence that APD371 can be exclusive to Arena until at least 2030."
Arena owns patents and pending patent applications covering compositions of matter for APD371 and related compounds, as well as methods of treatment utilizing APD371 and related compounds. Patent applications for APD371 have been filed in 23 jurisdictions, including the United States, Europe, Japan and China. The jurisdictions where patent applications have been filed are estimated to have accounted for more than 95% of global pharmaceutical sales in 2011.
About Chronic Pain
In the US alone, an estimated 100 million adults are burdened with chronic pain. Pain is the second leading cause of medically related work absenteeism, with greater than 50 million workdays lost each year. The annual US economic cost related to chronic pain is estimated at $560-$635 billion. The global pain management therapeutics market was estimated at $29 billion in 2010.
APD371, an orally available agonist of the CB2 receptor, is an internally discovered investigational drug candidate Arena is exploring for several potential indications, including chronic pain. This compound is designed to be highly selective to provide pain relief without psychotropic effects and without the potential for dependence or abuse. Preclinical efficacy with APD371 has been shown in animal models of pain.
About Arena Pharmaceuticals
Arena is embracing the challenge of improving health by seeking to bring innovative medicines targeting G protein-coupled receptors to patients. Arena's internally discovered drug, BELVIQ® (lorcaserin HCl), is approved in the United States, and Arena is focused on discovering, developing and commercializing additional drugs to address unmet medical needs. Arena's US operations are located in San Diego, California, and its operations outside of the United States, including its commercial manufacturing facility, are located in Zofingen, Switzerland. For more information, visit Arena's website at www.arenapharm.com.
Arena Pharmaceuticals® and Arena® are registered service marks of Arena Pharmaceuticals, Inc. BELVIQ® is a registered trademark of Arena Pharmaceuticals GmbH.
Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements include statements about the advancement, exploration, therapeutic indication, use, safety, efficacy, selectivity, mechanism of action and potential of APD371; patents, patent applications and patent protection for APD371, including coverage, duration, the exclusivity provided by patents, and the significance of the jurisdictions in which patent applications have been filed; the importance of intellectual property protection; the market for pain; embracing the challenge of improving health; seeking to bring innovative medicines to patients; and Arena's confidence, focus, plans, goals, strategy, expectations, research and development programs, and ability to discover and develop compounds and commercialize drugs. For such statements, Arena claims the protection of the Private Securities Litigation Reform Act of 1995. Actual events or results may differ materially from Arena's expectations. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, the following: Arena's patent protection and ability to obtain and defend patents; risks related to commercializing drugs, including regulatory, manufacturing, supply and marketing issues and the availability and use of BELVIQ; cash and revenues generated from BELVIQ, including the impact of competition; Arena's revenues will be based in part on estimates, judgment and accounting policies, and incorrect estimates or disagreement regarding estimates or accounting policies may result in changes to Arena's guidance or previously reported results; the timing and outcome of regulatory review is uncertain, and BELVIQ may not be approved for marketing when expected or ever in combination with another drug, for another indication or using a different formulation or in any other territory for any indication; regulatory decisions in one territory may impact other regulatory decisions and Arena's business prospects; government and commercial reimbursement and pricing decisions; risks related to relying on collaborative arrangements; the timing and receipt of payments and fees, if any, from collaborators; the entry into or modification or termination of collaborative arrangements; unexpected or unfavorable new data; nonclinical and clinical data is voluminous and detailed, and regulatory agencies may interpret or weigh the importance of data differently and reach different conclusions than Arena or others, request additional information, have additional recommendations or change their guidance or requirements before or after approval; data and other information related to any of Arena's research and development may not meet regulatory requirements or otherwise be sufficient for (or Arena or a collaborator may not pursue) further research and development, regulatory review or approval or continued marketing; the timing, success and cost of Arena's research and development; results of clinical trials and other studies are subject to different interpretations and may not be predictive of future results; clinical trials and other studies may not proceed at the time or in the manner expected or at all; having adequate funds; and satisfactory resolution of litigation or other disagreements with others. Additional factors that could cause actual results to differ materially from those stated or implied by Arena's forward-looking statements are disclosed in Arena's filings with the Securities and Exchange Commission. These forward-looking statements represent Arena's judgment as of the time of this release. Arena disclaims any intent or obligation to update these forward-looking statements, other than as may be required under applicable law.
Contact: Arena Pharmaceuticals, Inc.
Media Contact: Russo Partners
Craig M. Audet, Ph.D., Senior Vice President,
Operations & Head of Global Regulatory Affairs
858.453.7200, ext. 1612
David Schull, President
SOURCE Arena Pharmaceuticals, Inc.