CHAPEL HILL, N.C., Jul 25, 2002 (BW HealthWire) -- POZEN Inc. (Nasdaq: POZN), a
pharmaceutical development company with a portfolio of product candidates for
the treatment of migraine, today announced that it has received a Notice of
Allowance from the United States Patent and Trademark Office for MT 100(TM), an
oral tablet designed for first-line migraine therapy.
Upon issuance, the new patent expands upon the company's existing patent for MT
100, by providing claims relating to additional pharmaceutical compositions and
treatment methods that can be used for migraine patients. Specifically, the
allowed claims relate to additional stable and/or coordinated dosage forms
composed of non-steroidal anti-inflammatory drugs in combination with
metoclopramide, and methods of treating migraine with these compositions.
Upon issuance of the allowed patent application, POZEN will own two patents in
the U.S. and one patent in Australia for MT 100. Patent applications for MT 100
are pending in Canada, Europe, and Japan.
MT 100, a product candidate composed of naproxen sodium and metoclopramide
hydrochloride, is designed for first-line migraine therapy. POZEN has completed
all planned Phase III pivotal clinical trials for MT 100 in which the trials
have demonstrated the product candidate's effectiveness in treating migraine
pain and associated symptoms with less risk of cardiovascular side effects
compared to leading products on the market today.
POZEN is a pharmaceutical development company committed to building a portfolio
of products with significant commercial potential in select therapeutic areas.
POZEN's initial focus is on developing products for migraine therapy, a global
market expected to exceed $2.8 billion this year. The company's common stock is
traded on The Nasdaq Stock Market under the symbol "POZN".
Statements included in this press release that are not historical in nature are
"forward-looking statements" within the meaning of the "safe harbor" provisions
of the Private Securities Litigation Reform Act of 1995. You should be aware
that our actual results could differ materially from those contained in the
forward-looking statements, which are based on management's current expectations
and are subject to a number of risks and uncertainties, including, but not
limited to, our failure to successfully commercialize our products; costs and
delays in the development and FDA approval of our products; our inability to
enter into or maintain, and the risks resulting from our dependence upon,
collaboration or contractual arrangements necessary for the development,
manufacture, commercialization, marketing, sales and distribution of our
products; competitive factors; our inability to protect our patents or
proprietary rights and obtain necessary rights to third party patents and
intellectual property to operate our business; our inability to operate our
business without infringing the patents and proprietary rights of others;
general economic conditions; the failure of our products to gain market
acceptance; our inability to obtain any additional required financing;
technological changes; government regulation; changes in industry practice; and
one-time events, including those discussed herein and in our Quarterly Report on
Form 10-Q for the quarterly period ended March 31, 2002 under "Management's
Discussion and Analysis of Financial Condition and Results of Operations." We do
not intend to update any of these factors or to publicly announce the results of
any revisions to these forward-looking statements.
POZEN is on the Internet at www.pozen.com
Chief Financial Officer
Director, Investor Relations