|POZEN To Receive Expanded Patent Coverage for MT 100; Company Receives Notice of Allowance on New Patent for MT 100|
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