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Pro-Pharmaceuticals Expands Patent Portfolio with New Patents in the U.S. and Australia
Tuesday, March 22, 2011
Newton, MA -- Pro-Pharmaceuticals, Inc. (OTC: PRWP), the leading developer of therapeutics that target Galectin receptors to treat cancer and fibrosis, today announced that the Company has been granted two new patents, “Co-administration of a Polysaccharide with a Chemotherapeutic Agent for the Treatment of Cancer” in Australia and “Selectively Depolymerized Galactomannan Polysaccharide” in the United States. These are the sixth and seventh patents in Pro-Pharmaceuticals’ growing portfolio that cover its core Galectin-targeting compounds, further reinforcing our intellectual property around the world.
Pro-Pharmaceuticals’ technology improves the efficacy and safety profile of chemotherapy by targeting Galectins, which are receptors directly involved in the growth, invasiveness and metastasis of cancer cells. These recently-granted patents protect methods for enhancing the efficacy while reducing the toxicity of chemotherapies in which a polysaccharide, such as the Company’s lead drug candidate DAVANAT®, is co-administered with a chemotherapeutic agent. The patents also allow claims for the composition of matter for DAVANAT® itself.
“We continue to strengthen our intellectual property portfolio in the U.S. and beyond. We expect similar success with six additional patent applications pending in Europe, Japan, Brazil, and other key markets,” said Anatole Klyosov, Ph.D., D.Sc., Chief Scientist, Pro-Pharmaceuticals. “Based on overwhelming data in our studies as well as third-party studies at major international laboratories, we are confident that our Galectin-targeting compounds, that is Galectin blockers, will soon play a major role in advancing the treatment of cancer and liver fibrosis.”
About Pro-Pharmaceuticals, Inc.
Pro-Pharmaceuticals, OTC: PRWP, is the leader in the field of Galectin therapeutics and is engaged in the discovery, development and commercialization of therapeutics that target Galectin receptors for advanced treatment of cancer and fibrosis. Initially, the product pipeline is focused on increasing the efficacy and decreasing the toxicity of chemotherapy drugs. The Company is headquartered in Newton, Mass. Additional information is available at www.pro-pharmaceuticals.com.
Forward Looking Statements
Any statements in this news release about future expectations, plans and prospects for the Company constitute forward-looking statements as defined in the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s current expectations and are subject to a number of factors and uncertainties, which could cause actual results to differ materially from those described in such statements. We caution investors that actual results or business conditions may differ materially from those projected or suggested in forward-looking statements as a result of various factors and not place undue reliance on forward-looking statements.
More information about those risks and uncertainties is contained and discussed in the Company’s most recent quarterly or annual report and in the Company’s other reports filed with the Securities and Exchange Commission. The forward-looking statements represent the Company’s views as of the date of this news release and should not be relied upon to represent the Company’s views as of a subsequent date. While the Company anticipates that subsequent events may cause the Company’s views to change, the Company disclaims any obligation to update such forward-looking statements.
DAVANAT is a registered trademark of Pro-Pharmaceuticals.
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