Approval of composition of matter patent in key jurisdiction underscores the Company's commitment to maximize future out-licensing value
NAPLES, Fla. and CAMBRIDGE, United Kingdom, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Conduit Pharmaceuticals Inc. (Nasdaq: CDT) ("Conduit Pharmaceuticals" or "Conduit" or the "Company") today announced that the Japan Patent Office (JPO) has granted approval of a composition of matter patent application for the Company's lead asset, AZD1656, a Glucokinase Activator targeting a wide range of autoimmune disorders. This approval follows the recent patent grant in Australia, highlighting Conduit's continued progress in safeguarding its intellectual property portfolio for future out-licensing opportunities.
"This approval represents another significant milestone in our efforts to maximize the value of our intellectual property portfolio," said Dr. David Tapolczay, Chief Executive Officer of Conduit Pharmaceuticals. "The granting of this patent in Japan, one of the world's largest pharmaceutical markets, underscores the strength of our scientific and intellectual property strategy. We look forward to securing additional approvals in other major markets, further enhancing our global patent coverage and bolstering our out-licensing opportunities."
About Conduit Pharmaceuticals
Conduit Pharmaceuticals (Nasdaq: CDT) has developed a unique business model to bring medicines to patients. Its novel approach addresses unmet medical needs by enhancing and extending the intellectual property of its existing assets through cutting-edge solid-form technology, then commercializing these products with life science companies.
Conduit holds an exclusive license with AstraZeneca for the rights to AZD1656 and AZD5658, both Glucokinase Activators, and AZD5904, a myeloperoxidase inhibitor. Additionally, the Company has two further cocrystal assets including CDT1656, a combination of AZD1656 and a known compound, further broadening its innovative portfolio. Conduit is targeting Lupus and ANCA Vasculitis as its lead indications.
Conduit is led by a highly experienced team of pharmaceutical executives, including CEO, Dr. David Tapolczay, former Chief Executive Officer of UK-based medical research charity LifeArc, and the Chair of our Board, Dr. Freda Lewis-Hall, former Chief Medical Officer of Pfizer, Inc.
