PALO ALTO, Calif., April 26 /PRNewswire-FirstCall/ -- The Avicena Group, Inc. (Avicena), a developer of novel pharmaceutical and therapeutic products, announced today that it has been granted a patent entitled, "Use of Creatine or Creatine Compounds for Skin Preservation" from the Commonwealth of Australia's Patent Office. This patent, number 09/344427, further strengthens Avicena's intellectual property portfolio, particularly as it relates to the company's growing dermaceutical business. Avicena has already secured patent protection for this use in the United States (US 6,242,491 B1) and a similar patent application is presently pending in Europe.
Avicena possesses a substantial intellectual property portfolio governing its proprietary cellular energy modulation and transfer platforms, its extensive portfolio of proprietary creatine-based therapeutic formulations, and the product candidates presently comprising its pipeline. This strong patent portfolio consists of more than 40 patents and patent applications. These include 18 granted patents and pending patent applications in the United States and 23 granted patents and pending patent applications in other countries.
"This newly granted patent represents a key addition to our present intellectual property portfolio as it provides us with increased protection in the area of skin care, as well as additional momentum for this component of our business," said Belinda Tsao-Nivaggioli, Ph.D., Avicena's chief executive officer. "This is important as our dermaceutical business will play a critical role in our overall business strategy and help complement our ongoing work in pharmaceuticals and nutraceuticals."
In the area of dermaceuticals, Avicena is presently leveraging its proprietary technology to commercialize therapeutic ingredients and formulations to enhance cellular regeneration and repair, as well as treat causes of premature skin aging by providing a healthy skin cell environment. The company currently supplies its patent-protected ingredient formulations to a leading developer of consumer dermaceutical products for incorporation into a wide range of well-known product lines. Avicena is also actively developing additional proprietary formulations to complement its current dermaceutical product portfolio.
ABOUT AVICENA
Based in Palo Alto, CA, Avicena is a biotechnology company that seeks to develop and commercialize therapeutic products that regulate the critical energy processes which occur within human cells. Avicena's focus is on the development of pharmaceutical products to treat patients with rare diseases (orphan drugs), as well as dermaceutical and nutraceutical products. To date, the company has advanced certain compounds for the treatment of amyotrophic lateral sclerosis (ALS or Lou Gehrig's disease) into Phase III trials and treatments for Huntington's disease (HD) into Phase II development. Having completed Phase II trials, the company is now considering a Phase III trial for the treatment of Parkinson's disease.
SAFE HARBOR
This release may contain forward-looking statements within the meaning of the federal securities laws. Such forward-looking statements reflect, among other things, management's current expectations, plans and strategies, and anticipated financial results, all of which are subject to known and unknown risks, uncertainties and factors that may cause our actual results to differ materially from those expressed or implied by these forward-looking statements. Many of these risks are beyond our ability to control or predict. See "Risk Factors" in the company's prospectus and annual report for a discussion of such risks, including the company's need for additional funds, the company's dependence on a limited number of therapeutic compounds, the early state of the products the company is developing, uncertainties relating to clinical trials and regulatory reviews, competition and dependence on collaborative partners, the company's ability to avoid infringement of the patent rights of others, and the company's ability to obtain adequate patent protection and to enforce these rights. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. Furthermore, forward-looking statements speak only as of the date they are made. Avicena does not undertake any obligation to update or review any such forward-looking information, whether as a result of new information, future events or otherwise.
Contact: Vida Communication (on behalf of the Avicena Group) Stephanie Diaz (investors) Tim Brons (media) 415-675-7400 415-675-7400 sdiaz@vidacommunication.com 646-319-8981 (mobile) tbrons@vidacommunication.com
The Avicena Group, Inc.CONTACT: investors, Stephanie Diaz, +1-415-675-7400, orsdiaz@vidacommunication.com, or media, Tim Brons, +1-415-675-7400, ormobile, +1-646-319-8981, or tbrons@vidacommunication.com, both of VidaCommunication for The Avicena Group, Inc.
Web site: http://www.avicenagroup.com//
