Can-Fite BioPharma Ltd. (NYSE MKT: CANF) (TASE:CFBI), a biotechnology company with a pipeline of proprietary small molecule drugs being developed to treat inflammatory diseases, cancer and sexual dysfunction, today announced the U.S. Patent & Trademark Office has issued a Notice of Allowance to the Company for an important manufacturing method patent for its drug candidate CF101.
The patent titled, "Process for the synthesis of IB-MECA," describes a method for the chemical synthesis of the A3 adenosine receptor agonist, IB-MECA, which is the active pharmaceutical ingredient (API) of the CF101 drug candidate. The patent, once issued, will be scheduled to expire in 2028.
The patent covers a superior method of manufacturing the API of CF101 by reducing the number of synthesis steps. This in turn results in reduced drug development costs, potentially increasing margins on any future sales of CF101.
Dr. Ilan Cohn, Can-Fite Chairman and Senior Partner at the Reinhold Cohn Patent firm, said today, "We expect this patent, once issued, to be a substantial addition to Can-Fite's U.S. patent portfolio. We believe this patent, together with previously issued patents related to the utilization of CF101 for the treatment of inflammatory diseases, will set a high barrier to entry for potential competitors in the U.S."
Can-Fite's intellectual property portfolio consists of 120 patents issued and pending.
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