The U.S. Department of Commerce states that the biotechnology industry is vital to human progress and America’s economy. They also recognize this sector relies heavily on the incentive provided by patents to rationalize the risk of investing in life sciences research and development. Innovative patents in biotechnology ultimately help to prevent, diagnose, and treat diseases and disorders.
Without ongoing patent research, the biotech world would be at a standstill, and the path to curing our most dangerous diseases would be blocked.
SO WHY IS IT SO DIFFICULT TO OBTAIN A PATENT IN THE U.S.?
It’s extremely difficult and time consuming to obtain patent approval in the U.S. partly due to patent back logs and applications process delays. Mostly, patents are held up due to poor patent quality and the need for excessive litigation due to the poor quality. The U.S. patent approval process includes several checks and balances to ensure only the best patents complete the process.
One company, who has several biotech patents in countries such as Australia and Spain, announced on January 11th their recent U.S. patent approval. Despite the rigorous U.S. patent process, Propanc Health Group Corporation (PPCH), an emerging healthcare company focusing on development of new and proprietary treatments for cancer patients, had major success.
“An allowance of a key patent application in the US is a significant event in the life of any company, particularly a biotech, and we are delighted to have achieved this milestone which provides broad protection for our lead product, PRP, for the treatment of solid tumors,” said James Nathanielsz, Propanc’s Chief Executive Officer.
For PPCH, a U.S. patent brings them to the world stage. This key patent application is a first in the U.S., representing progress towards PPCH’s lead product, PRP, a solution for once daily intravenous administration of pancreatic proenzymes. The Company has filed six patent applications under its intellectual property portfolio relating to PRP. For the U.S., they now have their hand in the pot in terms of pushing cancer research forward. International investors want to keep a close watch on PPCH as they continue to create patents across countries all over the world.
OTHER BIOTECH NEWS
Benitec Biopharma Ltd (BNTC) had a big announcement in January as well. The European Medicines Agency (EMA) Committee for Orphan Medicinal Products (COMP), granted Orphan Drug Designation to the Company’s BB-301 product. This treats patients with oculopharyngeal muscular dystrophy (OPMD).
Investors are right to focus on potential Alzheimer’s disease drugs because of the huge market, but Anavex Life Sciences Corp. (AVXL) is not even close to the completion of its lead patent.
PharmAthene, Inc. (PIP) and Altimmune, Inc., a privately-held immunotherapeutics company targeting infectious diseases, announced the signing of a definitive agreement for the merger of PharmAthene and Altimmune in an all-stock transaction.
Last quarter, Concordia International Corp.’s (CXRX), witnessed a loss of -5.91% in recent trading period with closing price of $3.66. The company’s last traded volume of 1.34 million shares as compared to it’s an average volume of 1.86 million shares.
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