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Osteologix Prevails in European Patent Opposition for Osteoporosis Drug
Tuesday, March 31, 2009
EPO Division Finds Use of NB S101 Novel with Superior Bioavailability Over Protelos®
Glen Allen, VA -- Osteologix, Inc. (OTCBB: OLGX) today announced that the European Patent Office (EPO) has upheld the validity of the company's European Patent No. EP 1,534,305 B9, "Treating Cartilage and Bone Conditions with Water Soluble Strontium Salts". This patent offers protection for the use of NB S101(strontium malonate) for the treatment of osteoporosis and related conditions while confirming that the innovative product, NB S101, demonstrated a significant increase in bioavailability over the EMEA approved Protelos® (strontium ranelate).
The EPO originally issued the patent in October 2006, with an expiration date in May 2024. In July 2007, Intellectual Property Services (I.P.S.) of Paris, France, filed Notice of Opposition against the Osteologix European Patent, requesting revocation of the patent in its entirety. In March 2009, the Opposition Division upheld the Osteologix patent without changes and rejected I.P.S.'s request to revoke the Osteologix patent.
About Osteologix
Osteologix is a specialty biopharmaceutical company committed to improving the health of those afflicted with musculoskeletal diseases, such as osteoporosis. Its lead investigational product candidate, NB S101, is a novel pharmaceutical agent for the treatment and prevention of osteoporosis. For more information please visit www.osteologix.com.
Forward-Looking Statements
Certain of the statements set forth in this press release constitute "Forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "project," "plan," "will," "should," "could," "would," or words or expressions of similar meaning. All such forward-looking statements involve risks and uncertainties, including, but not limited to: statements regarding Osteologix's research and development programs; proposed marketing and sales; patents and regulatory approvals; the effect of competition and proprietary rights of third parties; the need for and availability of additional financing and access to capital; and the seeking of joint development, licensing or distribution and collaboration and marketing arrangements with pharmaceutical companies. There can be no assurance that such forward-looking statements will prove to be accurate and Osteologix undertakes no obligation to update any forward-looking statements or to announce revisions to any of the forward-looking statements.
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