MISSISSAUGA, ON, May 9, 2013 /CNW/ - Nuvo Research Inc. (TSX: NRI), a
specialty pharmaceutical company dedicated to building a portfolio of
products for the topical treatment of pain today announced that the
European Patent Office has issued a notice of Intention to Grant a
European Patent that provides protection for the Company's PENNSAID® 2% product. Upon grant by the European Patent Office, the patent can be
officially validated in over 37 European countries.
PENNSAID 2% is protected by issued patents in the United States expiring
April 21, 2028 and in New Zealand, South Africa and the Russian
Federation with an expiration date of October 17, 2027. Patent
applications covering PENNSAID 2% are currently pending in Australia,
Brazil, Canada, China, Hong Kong, India, Israel, Japan and Mexico and
have an anticipated expiry date of October 17, 2027.
The Company is currently in discussions with potential marketing
partners interested in licensing PENNSAID and/or PENNSAID 2% for
Europe, Russia, China, the Middle East, Asia and Australia.
"We are very pleased with the progress we are making to secure worldwide
patent protection for our next generation topical NSAID, PENNSAID 2%,"
said Tina Loucaides, Nuvo's Vice-President and General Counsel. "This
expanding patent portfolio supports our efforts to secure international
licensing partners for PENNSAID 2% and additional sources of revenue
About PENNSAID 2%
PENNSAID 2% is a topical nonsteroidal anti-inflammatory drug (NSAID)
containing 2% diclofenac sodium compared to 1.5% for original
PENNSAID. It is more viscous than original PENNSAID, is supplied in a
metered dose pump bottle and was studied in clinical trials using twice
daily dosing compared to four times a day for original PENNSAID.
About Nuvo Research Inc.
Nuvo is a publicly traded, Canadian specialty pharmaceutical company,
headquartered in Mississauga, Ontario. The Company is building a
portfolio of products for the treatment of pain through internal
research and development. The Company's product portfolio includes
PENNSAID®, Pliaglis® and Synera®. PENNSAID, a topical nonsteroidal anti-inflammatory drug (NSAID), is
used to treat the signs and symptoms of osteoarthritis of the knee(s).
PENNSAID is sold in the United States by Mallinckrodt Inc., a Covidien
company, in Canada by Paladin Labs Inc. and in several European
countries. Pliaglis is a topical local anesthetic cream which provides
topical local analgesia for superficial dermatological procedures. The
Company has licensed worldwide marketing rights to Pliaglis to Galderma
Pharma S.A., a global pharmaceutical company specialized in
dermatology. Synera is a topical patch that combines lidocaine,
tetracaine and heat, approved in the United States to provide local
dermal analgesia for superficial venous access and superficial
dermatological procedures and in Europe, for surface anaesthesia of
normal intact skin. Nuvo currently markets Synera in the United States
and its licensing partner, Eurocept International B.V., has initiated a
pan-European launch of Synera (under the name Rapydan®) in several European countries. The Company is also developing WF10,
for the treatment of immune related diseases.
Certain statements in this news release constitute forward-looking
statements within the meaning of applicable securities laws.
Forward-looking statements include, but are not limited to, statements
concerning the Company's future objectives, strategies to achieve those
objectives, as well as statements with respect to management's beliefs,
plans, estimates, and intentions, and similar statements concerning
anticipated future events, results, circumstances, performance or
expectations that are not historical facts. Forward-looking statements
generally can be identified by the use of forward-looking terminology
such as "outlook", "objective", "may", "will", "expect", "intend",
"estimate", "anticipate", "believe", "should", "plans" or "continue",
or similar expressions suggesting future outcomes or events. Such
forward-looking statements reflect management's current beliefs and are
based on information currently available to management.
Forward-looking statements involve risks and uncertainties that could
cause actual results to differ materially from those contemplated by
such statements. Factors that could cause such differences include the
need for additional financing, the current economic environment,
dependence on sales and marketing partnerships, competitive
developments, as well as other risk factors included in the Company's
annual information form dated March 27, 2013 under the heading "Risks
Factors" and as described from time to time in the reports and
disclosure documents filed by the Company with Canadian securities
regulatory agencies and commissions. This list is not exhaustive of
the factors that may impact the Company's forward-looking statements.
These and other factors should be considered carefully and readers
should not place undue reliance on the Company's forward-looking
statements. As a result of the foregoing and other factors, no
assurance can be given as to any such future results, levels of
activity or achievements and neither the Company nor any other person
assumes responsibility for the accuracy and completeness of these
forward-looking statements. The factors underlying current
expectations are dynamic and subject to change. Although the
forward-looking information contained in this news release is based
upon what management believes are reasonable assumptions, there can be
no assurance that actual results will be consistent with these
forward-looking statements. Certain statements included in this news
release may be considered "financial outlook" for purposes of
applicable securities laws, and such financial outlook may not be
appropriate for purposes other than this news release. All
forward-looking statements in this news release are qualified by these
cautionary statements. The forward-looking statements contained herein
are made as of the date of this news release and except as required by
applicable law, the Company undertakes no obligation to publicly update
or revise any forward-looking statement, whether as a result of new
information, future events or otherwise.
SOURCE: Nuvo Research Inc.
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