CIPHER RECEIVES NOTICE OF ALLOWANCE FROM US PATENT OFFICE FOR CIP-TRAMADOL ER
Toronto Stock Exchange Symbol: DND
MISSISSAUGA, ON, Oct 7 /CNW/ - Cipher Pharmaceuticals Inc. (TSX: DND) today announced that the U.S. Patent and Trademark Office has issued a Patent Notice of Allowance for CIP-TRAMADOL ER, the Company's extended-release tramadol product for the treatment of moderate to moderately severe chronic pain in adults. The required issue and publication fees will now be paid so that the patent can be issued, following which the Company will pursue an FDA Orange Book listing associated with its previously approved CIP-TRAMADOL ER New Drug Application.
"Patent protection is an important step on the path to commercialization of our extended-release tramadol product in the U.S. market, which we are targeting in the first half of 2011," said Larry Andrews, President and CEO of Cipher. "We believe our product's unique capsule formulation comprising an immediate-release tablet and sustained-release beads, combined with consistent absorption whether taken with or without meals, will make it an attractive alternative for clinicians and chronic pain sufferers. We are working to complete a U.S. marketing partnership in the near term."
About Cipher Pharmaceuticals Inc.
Cipher Pharmaceuticals is a commercial-stage drug development company focused on commercializing novel formulations of successful, currently marketed molecules using advanced drug delivery technologies. Cipher's strategy is to in-license products that incorporate proven drug delivery technologies and advance them through the clinical development and regulatory approval stages, after which the products are out-licensed to international partners. Because Cipher's products are based on proven technology platforms applied to currently marketed drugs, they are expected to have lower approval risk, shorter development timelines and significantly lower development costs. The Company's lead compound is being marketed in the United States by Kowa Pharmaceuticals America under the label Lipofen®. In addition, Cipher is developing formulations of the pain reliever tramadol (FDA approval in May 2010) and the acne treatment isotretinoin (FDA approvable letter in April 2007).
Cipher is listed on the Toronto Stock Exchange under the symbol 'DND' and has approximately 24 million shares outstanding. For more information, please visit www.cipherpharma.com.
Forward-Looking Statements
Statements made in this news release, other than those concerning historical financial information, may be forward-looking and therefore subject to various risks and uncertainties. The words "may", "will", "could", "should", "would", "suspect", "outlook", "believe", "plan", "anticipate", "estimate", "expect", "intend", "forecast", "objective", "hope" and "continue" (or the negative thereof), and words and expressions of similar import, are intended to identify forward-looking statements. Certain material factors or assumptions are applied in making forward-looking statements and actual results may differ materially from those expressed or implied in such statements. Factors that could cause results to vary include those identified in the Company's Annual Information Form and other filings with Canadian securities regulatory authorities, such as the applicability of patents and proprietary technology; possible patent litigation; regulatory approval of products in the Company's pipeline; changes in government regulation or regulatory approval processes; government and third-party payer reimbursement; dependence on strategic partnerships for product candidates and technologies, marketing and R&D services; meeting projected drug development timelines and goals; intensifying competition; rapid technological change in the pharmaceutical industry; anticipated future losses; the ability to access capital to fund R&D; and the ability to attract and retain key personnel. All forward-looking statements presented herein should be considered in conjunction with such filings. Except as required by Canadian securities laws, the Company does not undertake to update any forward-looking statements; such statements speak only as of the date made.
For further information:
Craig Armitage Investor Relations The Equicom Group (416) 815-0700 ext 278 (416) 815-0080 fax [email protected] |
Larry Andrews President and CEO Cipher Pharmaceuticals (905) 602-5840 ext 324 (905) 602-0628 fax [email protected] |
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