Oxygen Biotherapeutics, Inc.
, (“OBI”) (NASDAQ: OXBT) a developer of oxygen-carrying therapeutics, today announced that the United States Patent and Trademark Office has issued the Company patent
, titled, “Perfluorocarbons for use in Treating Pruritus.” This patent addresses methods for treating pruritus (itching), a sensation that a patient instinctually attempts to relieve by rubbing or scratching.
The newly issued patent addresses part of the global dermatological drugs market, which is projected to reach
$24.4 billion by 2015
, according to market research firm Visiongain. The Company is currently evaluating commercialization strategies, which may include out-licensing, for prescription dermatologic indications of PFC-based products for conditions including allergic contact dermatitis, psoriasis and acne.
Among several beneficial properties, the Company’s platform technology of proprietary perfluorocarbons (PFCs) carry 4 times more oxygen than red blood cells (RBCs), have 20 times higher oxygen solubility than water, and form stable emulsions 35 - 40 times smaller than RBCs.
In May of 2012, Oxygen Biotherapeutics completed a
in which its proprietary PFC-based emulsion showed efficacy in relieving histamine-induced pruritus. Efficacy in treating pruritus was assessed, as reported by each subject using a Visual Analogue Scale, a validated instrument used to evaluate itch in clinical studies. The randomized, double-blind, placebo-controlled study which included 30 healthy male and female volunteers aged 18-65 showed that there was a profound drop in itch sensation when the Company’s PFC-based topical treatment was applied.
"This latest patent builds upon our family of patents that address dermatologic conditions. While our focus is the development of PFCs for critical indications, we seek to unlock the value of our IP through out-licensing non-core indications including those in dermatology," stated Michael Jebsen, Interim CEO, President and Chief Financial Officer.
Oxygen Biotherapeutics now owns or in-licenses 9 issued patents for medical and dermatological conditions with an average remaining life of approximately 18 years. Oxygen Biotherapeutics relies on a combination of use, method, therapeutic, delivery and composition patents, patent applications, trade secrets, and proprietary know-how in order to protect its medical products. The Company is also expanding its IP portfolio by exploring new high-potential therapeutic applications through third-party research collaborations.