QualityStocks would like to highlight BioLineRx Ltd. (NASDAQ: BLRX), a clinical stage biopharmaceutical development company which, together with its subsidiaries, engages in identifying, in-licensing, and developing therapeutic candidates. Based in Israel, the company's declared aim is to develop products suitable for today's pharmaceutical market satisfying an unmet medical need or exhibiting features and benefits above those of current therapies.
In the company’s news yesterday,
BioLineRx announced that a Notice of Allowance has been received from the United States Patent and Trademark Office claiming the crystalline form of its lead product, BL-1020. The patent, when granted, will be valid until at least 2031, without taking into account any possible extension periods, and is nine years longer than the granted patent coverage previously reported by BioLineRx. There are also patent applications pending in Europe, Japan, China, India, Australia, Brazil, Mexico, Canada, and Israel.
Right now, around 1 percent of the world’s population suffers from schizophrenia, most of whom suffer cognitive impairment which may affect daily functioning. Currently available schizophrenia therapies do not address this need. However, BL-1020 has shown to significantly improve cognitive function in schizophrenia patients. BioLineRx is currently conducting the Phase II/III CLARITY trial with the drug’s cognition enhancement as its primary objective. Results of the trial are expected sometime in the second half of 2013.
The company is pleased with the extended patent protection for its lead drug candidate, especially in the light of recent failures by larger pharmaceutical companies during late-stage clinical trials of schizophrenia drugs. In addition, many other pharmaceutical firms have reduced their operations surrounding schizophrenia therapies due to loss of patent protection.
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