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Cardium Announces Patent Award For Rights To Cardiovascular Gene Therapy For The Treatment Of Heart Disease

Stocks in this article: BSX CXM

SAN DIEGO, Nov. 19, 2012 /PRNewswire/ -- Cardium Therapeutics (NYSE MKT: CXM) today announced a winning patent decision in Europe and successful resolution of a long-standing competition between Cardium and its licensor the University of California, and Boston Scientific Corporation (NYSE: BSX) and its licensor Arch Development, over rights to key methods for the application of cardiovascular gene therapy to the treatment of coronary heart disease, as is employed in Cardium's Generx ® gene therapy candidate currently in late-stage clinical studies. Following a decision by the European Patent Office, Cardium's patent portfolio now includes allowed and issued patents covering its gene therapy approach both in Europe and in the United States, with competing patent applications licensed and pursued by Boston Scientific having been successfully overcome in both Europe and the U.S.

(Logo:  http://photos.prnewswire.com/prnh/20051018/CARDIUMLOGO)

The competing patent applications licensed by Boston Scientific Corporation had been filed by Dr. Jeffrey Leiden et al., currently President & CEO of Vertex Pharmaceuticals, and had been the subject of opposition proceedings in Europe and interference proceedings in the United States, both of which were ultimately resolved in favor of Cardium. Following resolution of the opposition proceedings and further examination of Cardium's case, the European Patent Office has now approved Cardium's patent application for grant in Europe. Three corresponding U.S. Patents that had been challenged by Boston Scientific Corporation (in decisions that were appealed to the United States Court of Appeals for the Federal Circuit), have been affirmed in Cardium's favor.

Cardium has additional patents and patent applications directed to its methods of cardiovascular gene therapy in the U.S., Europe, Russia and elsewhere, and the company recently filed new patent applications directed to certain improved techniques for the treatment of heart disease that are currently the subject of a Phase 3 registration trial based in Moscow, which is designed to generate additional safety and effectiveness data for the Russian Federation and other jurisdictions. Generx ® (alferminogene tadenovec) is intended to stimulate the growth of collateral blood vessels to effectively bypass coronary artery atherosclerotic blockages without the need for surgical procedures or angioplasty and stents; and its safety and effectiveness have been the subject of clinical studies involving more than 650 patients in the U.S., Europe and elsewhere. Generx has been assigned the trade name Cardionovo™ for planned commercialization in the Russian Federation. Cardium believes that its Generx clinical database represents the largest and most complete gene therapy dossier – and is directed to a major medical indication that is a leading cause of death throughout the developed world.

"The resolution of these important reviews of our gene therapy patents, and the consistent decisions in our favor including rulings by the U.S. courts of appeal, underscore the value of our patent portfolio, which we believe reflects a breakthrough approach to the treatment of coronary heart disease," said Dr. Tyler M. Dylan-Hyde, Chief Business Officer and General Counsel of Cardium Therapeutics.

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