Ocean Biomedical, Inc. (NASDAQ: OCEA) announced today
that the
United States
Patent and
Trademark Office
has issued a patent
covering Ocean’s anti-Chitinase 1 small
molecule candidate.
Dr. Jack A. Elias, MD, one of Ocean’s Scientific
Co-founders, discovered this molecule to be a key
factor in controlling and
inhibiting fibrosis progression,
with potential application in several major fibrotic
diseases. Targeted diseases include alcoholic liver
disease, idiopathic pulmonary fibrosis (IPF), scleroderma,
nonalcoholic steatohepatitis (NASH), and Hermansky-Pudlak Syndrome
(HPS), a rare disease that currently has no known treatments. Ocean
Biomedical is the exclusive licensee of this patent family.
Ocean’s approach has shown an 85%–90%
reduction in collagen accumulation in four different IPF
and HPS pulmonary fibrosis animal models. This treatment approach
is anticipated to be well-tolerated in
humans based on data from original (non-Ocean)
clinical studies and recent EPA data. In addition to the
targeted diseases noted above, the patent notes potential use in
conditions of chemotherapy-induced pulmonary fibrosis, scleroderma,
collagen vascular disease, lupus, rheumatoid arthritis, and
interstitial lung disease associated with asbestosis, silicosis,
and grain exposure. Nearly all these fibrotic conditions currently
lack adequate treatments.
The patent is U.S. Patent No. 11,717,528 B2,
titled “Methods and Compositions Relating to the Treatment of
Fibrosis.”
About Fibrotic
Diseases
Fibrosis is a condition of “runaway scarring”
that can affect nearly every organ and tissue in the body including
the liver, kidney, heart, and lungs. Fibrotic diseases are a
major cause of morbidity and
mortality worldwide. Ocean Biomedical’s
current anti-fibrosis platform aims to address unmet needs for
idiopathic pulmonary fibrosis (IPF) and Hermansky-Pudlak Syndrome
(HPS), two fibrotic diseases that affect the lungs, but as the new
patent notes, Ocean’s unique treatment approach has potential for
expanded application in fibrotic conditions that affect other
organs, such as scleroderma, which affects the skin, or alcoholic
liver disease and nonalcoholic steatohepatitis (NASH), which affect
the liver.
IPF degrades the respiratory system. It is
characterized by progressive scarring of the lung tissues, leading
to irreversible and often rapid decline in lung function. Estimates
of IPF prevalence indicate that
over
150,000 people suffer from
IPF in the United States along with over
50,000 people in Europe. There are currently only two
approved drugs for treating IPF, both of which
have limited efficacy.
Current therapies slow the deterioration of lung function but with
significant side effects. IPF is a disease with a major unmet need
for curative therapeutics.
HPS is an ultra-rare disease that has an
estimated worldwide prevalence of 1 to 9 in 1,000,000 people,
though prevalence can vary by subtype and region. For example,
HPS-1 affects approximately 1 in 1,800 people in northwestern
Puerto Rico. Most patients with HPS develop lung fibrosis that
progresses rapidly and is typically lethal within ten years of
diagnosis. No therapeutic interventions are currently approved by
the FDA for the treatment of HPS, and lung transplantation remains
the only potentially life-prolonging treatment.
Leadership Comments
“We desperately need more treatment options for
patients with pulmonary fibrosis,” commented Dr. Elias, former
Dean of Medicine and Biological Science at Brown University. “I’m
hopeful we can develop these discoveries into a new, more effective
treatment approach for patients and doctors.”
“Ocean Biomedical is committed to advancing
novel discoveries that have the potential to treat global unmet
needs,” said Elizabeth Ng, Chief Executive Officer of Ocean
Biomedical.
“Combining innovative science with a strong
management team has potential for great impact,” said Dr.
Chirinjeev Kathuria, Ocean Biomedical’s co-founder and Executive
Chairman. “We are pleased to receive this patent and look forward
to moving these important drug candidates into clinical trials as
soon as possible.”
About Ocean Biomedical
Ocean Biomedical, Inc. is a Providence, Rhode
Island-based biopharma company with an innovative business model
that accelerates the development and commercialization of
scientifically compelling assets from research universities and
medical centers. Ocean Biomedical deploys the funding and expertise
to move new therapeutic candidates efficiently from the laboratory
to the clinic, to the world. Ocean Biomedical is currently
advancing five promising research programs that have the potential
to achieve life-changing outcomes in lung cancer, brain cancer,
pulmonary fibrosis, and the prevention and treatment of malaria.
The Ocean Biomedical team is working on solving some of the world’s
toughest problems, for the people who need it most.
To learn more, visit www.oceanbiomedical.com.
Forward-Looking Statements
The information included herein and in any oral
statements made on behalf of Ocean Biomedical, Inc. (the “Company”)
or otherwise in connection herewith include “forward-looking
statements” within the meaning of the “safe harbor” provisions of
the United States Private Securities Litigation Reform Act of 1995.
Forward-looking statements may be identified by the use of words
such as “estimate,” “plan,” “project,” “forecast,” “intend,”
“will,” “expect,” “anticipate,” “believe,” “seek,” “target” or
other similar expressions that predict or indicate future events or
trends or that are not statements of historical matters, although
not all forward-looking statements contain such identifying words.
These forward-looking statements include, but are not limited to,
statements regarding estimates and forecasts of financial and
performance metrics and expectations; the expected timing and
success of investigational new drug (“IND”) filings for our initial
product candidates; statements regarding the expected timing of our
IND-enabling studies; the frequency and timing of filing additional
INDs; expectations regarding the availability and addition of
future assets to our pipeline; the advantages of any of our
pipeline assets and platforms; the potential benefits of our
product candidates; potential commercial opportunities; the timing
of key milestones for our programs; the future financial condition,
results of operations, business strategy and plans, and objectives
of management for future strategy and operations; and statements
about industry trends and other companies in the industry. These
forward-looking statements are based on various assumptions,
whether or not identified herein, and on the current expectations
of the Company’s management, and they are not predictions of actual
performance. These forward-looking statements are provided for
illustrative purposes only and are not intended to serve as, and
must not be relied on by any investor as, a guarantee, an
assurance, a prediction, or a definitive statement of fact or
probability. Actual events and circumstances are difficult or
impossible to predict and will differ from assumptions.
Any discoveries announced by the Company are
based solely on laboratory and animal studies. The Company has not
conducted any studies that show similar efficacy or safety in
humans. There can be no assurances that any treatment tested by the
Company will prove safe or effective in humans, and any clinical
benefit of any such treatment is subject to clinical trials and
ultimate approval of its use in patients by the FDA. Such approval,
if granted, could be years away.
Forward-looking statements are predictions,
projections, and other statements about future events that are
based on current expectations and assumptions and, as a result, are
subject to risks and uncertainties. These forward-looking
statements are not guarantees of future performance, conditions, or
results, and involve a number of known and unknown risks,
uncertainties, assumptions, and other important factors, many of
which are outside the control of the Company that could cause
actual results or outcomes to differ materially from those
discussed in the forward-looking statements.
You should carefully consider the foregoing
factors and the other risks and uncertainties that are described in
the Company’s Annual Report on Form 10-K for the year ended
December 31, 2022 and in the Company’s subsequent Quarterly Reports
on Form 10-Q, and in other documents to be filed by the Company
from time to time with the SEC and which are and will be available
at www.sec.gov. These filings identify and address other
important risks and uncertainties that could cause actual events
and results to differ materially from those contained in the
forward-looking statements. Forward-looking statements speak only
as of the date they are made. We do not undertake any obligation to
update any forward-looking statements made by us. These
forward-looking statements should not be relied upon as
representing the Company’s assessments as of any date subsequent to
the date of this filing. Accordingly, undue reliance should not be
placed upon the forward-looking statements.
Ocean Biomedical Investor
RelationsOCEANIR@westwicke.com
Ocean Biomedical Media
RelationsOCEANPR@westwicke.com
Kevin KertscherCommunications Director
Source: Ocean Biomedical, Inc.
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