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Prana Biotechnology (PRAN) Secures European and U.S. Patents for Pharmaceutical Compounds

Prana Biotechnology was established to commercialize research into Alzheimer’s disease and other major age-related neurodegenerative disorders. In line with this objective, the company yesterday announced it has received key PBT2 patents in Europe and the United States for select pharmaceutical compositions.

“The grant and extension of PBT2 patent rights in the United States together with securing European patent rights marks a critical milestone in our commercialization plans, offering opportunity in both Huntington’s disease and Alzheimer’s disease,” Geoffrey Kempler, Prana’s executive chairman stated in the press release.

The U.S. Patent and Trademark Office (USPTO) granted Prana a composition of matter patent titled ‘8-Hydroxyquinoline derivatives’ for selected 8-hydroxyquinoline compounds, including its lead clinical asset, PBT2.

The USPTO also extended the term of the PBT2 patent for another 2.5 years, with a set expiration date of December 21, 2025, though the date may be further extended by the application of pharmaceutical extension of term provisions in that country.

Prana previously announced the grant of the related European case, and yesterday announced the expiration of the mandatory nine-month post-grant opposition, which releases the company from any third-party objections regarding the patent. The European case has now been placed on the Register of European patents, with a 20-year expiration set for July 16, 2023, and a possible extension of term of up to five years.

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