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Provectus Pharmaceuticals Receives Patent Allowance from U.S. Patent and Trademark Office
Thursday, December 06, 2007
Patent to Protect Novel Photodynamic Drug
Knoxville, TN -- Provectus Pharmaceuticals, Inc. (OTCBB: PVCT) has received allowance of its U.S. patent application, protecting therapeutic agents based on a novel photoactive analog of its lead photodynamic product PH-10, from the United States Patent and Trademark Office (USPTO).
The pending patent covers systemic therapeutic agents that are used in conjunction with visible light for photodynamic treatment of cancer, skin diseases, and other tissue disorders. The active compound was developed to improve the efficiency and specificity of the photodynamic process, potentially allowing treatment to be achieved quickly using minimal amounts of light.
"Like PH-10, these new agents are activated upon application of visible light to target tissue. Because of their high sensitivity for light activation, they are particularly suitable for treatment of internal body tissues or larger diseased areas," noted Craig Dees, PhD, CEO of Provectus. "Moreover, since they don’t need much light to function they may be easier to use for these applications, and require less complex light sources, compared to earlier photodynamic drugs."
Dees continued: "While we remain focused on clinical development of our lead therapeutic products, PV-10 for cancer and PH-10 for dermatology, this new patent solidifies an important longer-term opportunity in our development pipeline. It will probably be several years before we commence clinical testing of these new agents, but given their large potential value in markets worldwide, protection of this new platform technology enhances value for our shareholders now."
Provectus Pharmaceuticals specializes in developing oncology and dermatology therapies that are safer, more effective, and less invasive than conventional therapies. Provectus is currently conducting Phase 2 clinical trials of their proprietary drugs PV-10 as a therapy for melanoma and breast cancer, and PH-10 as a topical treatment for moderate to severe psoriasis. The Company has received orphan drug designation from the FDA for metastatic melanoma. For additional information about Provectus please visit the Company's website at www.pvct.com.
The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date thereof.
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