TORONTO, Feb. 16 2022 (GLOBE NEWSWIRE) — PharmaTher Holdings Ltd. (the “Company” or “PharmaTher”) (OTCQB: PHRRF) (CSE: PHRM), a leader in ketamine-based specialty pharmaceuticals, is pleased to announce that the United Nations Patent and Trademark Office United States granted the company U.S. Patent No. 11,213,495, titled “Method and Composition for Reducing the Psychotomimetic Side Effect and Addictive Disorder of Ketamine.” The patent refers to the FDA-approved combination formulation of ketamine and betaine anhydrous (“KETABET™”), which has been shown in research to enhance antidepressant effect while potentially reducing the known negative side effects of ketamine. .
“We are extremely pleased with the granting of this patent in the United States as it further validates the potential of KETABET™, strengthens our intellectual property position and underscores our commitment to ketamine innovation for mental health, neurological disorders and pain,” said Fabio. Chianelli, CEO of PharmaTher.
The granted patent strengthens the Company’s global patent portfolio. It offers broad potential of KETABET™ for uses in various mental health, neurological and pain disorders, and new forms of delivery, including the patented hydrogel-forming microneedle patch delivery system of the society.
Additionally, issued patents for KETABET™ are issued in Japan (Patent No. 6967532) and Taiwan (Patent No. I648049). The Company plans to convert current patent applications in Europe, Canada, Israel and China into issued patents. Patent protection is expected to expire in 2036.
Granted patents and published studies further validate the potential of KETABET™ and support ongoing observational studies by company researchers evaluating the impact of betaine on adverse ketamine side effects seen after ketamine treatment in subjects suffering from depression or pain. Based on the results of ongoing studies, the Company will advance the KETABET™ program with its micro-needle patch technology into Phase 2 clinical studies.
The company previously announced the publication of a scientific paper demonstrating the potential of KETABET™ to prevent the potential adverse psychiatric effects of repeated ketamine treatment for depression and other indications, including suicidal ideation, substance abuse, post-traumatic stress disorder and chronic pain. The article titled “Betaine Prevents and Reverses Behavioral Deficits and Synaptic Dysfunction Induced by Repeated Ketamine Exposure in Mice”, is published in Biomedicine & Pharmacotherapy and can be found here.
About PharmaTher Holdings Ltd.
PharmaTher Holdings Ltd. (OTCQB: PHRRF) (CSE: PHRM) is focused on the development and commercialization of ketamine-based specialty pharmaceutical products for mental health, neurological disorders and pain. Learn more about PharmaTher.com.
For more information about PharmaTher, please contact:
Fabio Chianelli
Chief executive officer
PharmaTher Holdings Ltd.
Tel: 1-888-846-3171
E-mail: [email protected]
Website: www.pharmather.com
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepts responsibility for the adequacy or accuracy of this release.
Caution
This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. These statements relate to future events or future performance. The use of any of the words “could”, “intends”, “expects”, “believes”, “will”, “projected”, “estimated”, “potential”, “aims “, “may” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the current beliefs or assumptions of PharmaTher Holdings Ltd. (the “Company”) as to the outcome and timing of such future events. Forward-looking information is based on reasonable assumptions that have been made by the Company as of the date of the information and is subject to known and unknown risks, uncertainties and other factors that may cause results or events actuals differ materially from those anticipated in the forward-looking information. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and the Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking information contained herein. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the heading “Risk Factors” in the Company’s MD&A for the period from November 30, 2021 (“MD&A”), dated January 27, 2022, available on the company profile at www.sedar.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, and does not constitute an offer, solicitation or sale in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction.
