Ocean Biomedical (NASDAQ: OCEA) Announces New Patent for Anti-Fibrosis Discovery with Allowance in Alcoholic Liver Disease and Multiple Fibrotic Conditions, Leading Causes of Death in the U.S.
Ocean’s small molecule candidate significantly controls fibrosis progression in idiopathic pulmonary fibrosis (IPF) and Hermansky-Pudlak Syndrome (HPS) in multiple testing models. Patent granted for use in IPF, HPS, alcoholic liver disease, nonalcoholic steatohepatitis (NASH), and scleroderma.
Providence, RI, Aug. 29, 2023 (GLOBE NEWSWIRE) — Ocean Biomedical, Inc. (NASDAQ: OCEA) announced today that the United States Patent and Trademark Office has issued a patent covering Ocean’s anti-Chitinase 1 small molecule candidate.
Dr. Jack A. Elias, MD, one of Ocean’s Scientific Co-founders, discovered this molecule to be a key factor in controlling and inhibiting fibrosis progression, with potential application in several major fibrotic diseases. Targeted diseases include alcoholic liver disease, idiopathic pulmonary fibrosis (IPF), scleroderma, nonalcoholic steatohepatitis (NASH), and Hermansky-Pudlak Syndrome (HPS), a rare disease that currently has no known treatments. Ocean Biomedical is the exclusive licensee of this patent family.
Ocean’s approach has shown an 85%–90% reduction in collagen accumulation in four different IPF and HPS pulmonary fibrosis animal models. This treatment approach is anticipated to be well-tolerated in humans based on data from original (non-Ocean) clinical studies and recent EPA data. In addition to the targeted diseases noted above, the patent notes potential use in conditions of chemotherapy-induced pulmonary fibrosis, scleroderma, collagen vascular disease, lupus, rheumatoid arthritis, and interstitial lung disease associated with asbestosis, silicosis, and grain exposure. Nearly all these fibrotic conditions currently lack adequate treatments.
The patent is U.S. Patent No. 11,717,528 B2, titled “Methods and Compositions Relating to the Treatment of Fibrosis.”
About Fibrotic Diseases
Fibrosis is a condition of “runaway scarring” that can affect nearly every organ and tissue in the body including the liver, kidney, heart, and lungs. Fibrotic diseases are a major cause of morbidity and mortality worldwide. Ocean Biomedical’s current anti-fibrosis platform aims to address unmet needs for idiopathic pulmonary fibrosis (IPF) and Hermansky-Pudlak Syndrome (HPS), two fibrotic diseases that affect the lungs, but as the new patent notes, Ocean’s unique treatment approach has potential for expanded application in fibrotic conditions that affect other organs, such as scleroderma, which affects the skin, or alcoholic liver disease and nonalcoholic steatohepatitis (NASH), which affect the liver.
IPF degrades the respiratory system. It is characterized by progressive scarring of the lung tissues, leading to irreversible and often rapid decline in lung function. Estimates of IPF prevalence indicate that over 150,000 people suffer from IPF in the United States along with over 50,000 people in Europe. There are currently only two approved drugs for treating IPF, both of which have limited efficacy. Current therapies slow the deterioration of lung function but with significant side effects. IPF is a disease with a major unmet need for curative therapeutics.
HPS is an ultra-rare disease that has an estimated worldwide prevalence of 1 to 9 in 1,000,000 people, though prevalence can vary by subtype and region. For example, HPS-1 affects approximately 1 in 1,800 people in northwestern Puerto Rico. Most patients with HPS develop lung fibrosis that progresses rapidly and is typically lethal within ten years of diagnosis. No therapeutic interventions are currently approved by the FDA for the treatment of HPS, and lung transplantation remains the only potentially life-prolonging treatment.
Leadership Comments
“We desperately need more treatment options for patients with pulmonary fibrosis,” commented Dr. Elias, former Dean of Medicine and Biological Science at Brown University. “I’m hopeful we can develop these discoveries into a new, more effective treatment approach for patients and doctors.”
“Ocean Biomedical is committed to advancing novel discoveries that have the potential to treat global unmet needs,” said Elizabeth Ng, Chief Executive Officer of Ocean Biomedical.
“Combining innovative science with a strong management team has potential for great impact,” said Dr. Chirinjeev Kathuria, Ocean Biomedical’s co-founder and Executive Chairman. “We are pleased to receive this patent and look forward to moving these important drug candidates into clinical trials as soon as possible.”
About Ocean Biomedical
Ocean Biomedical, Inc. is a Providence, Rhode Island-based biopharma company with an innovative business model that accelerates the development and commercialization of scientifically compelling assets from research universities and medical centers. Ocean Biomedical deploys the funding and expertise to move new therapeutic candidates efficiently from the laboratory to the clinic, to the world. Ocean Biomedical is currently advancing five promising research programs that have the potential to achieve life-changing outcomes in lung cancer, brain cancer, pulmonary fibrosis, and the prevention and treatment of malaria. The Ocean Biomedical team is working on solving some of the world’s toughest problems, for the people who need it most.
To learn more, visit www.oceanbiomedical.com.
Forward-Looking Statements
The information included herein and in any oral statements made on behalf of Ocean Biomedical, Inc. (the “Company”) or otherwise in connection herewith include “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of financial and performance metrics and expectations; the expected timing and success of investigational new drug (“IND”) filings for our initial product candidates; statements regarding the expected timing of our IND-enabling studies; the frequency and timing of filing additional INDs; expectations regarding the availability and addition of future assets to our pipeline; the advantages of any of our pipeline assets and platforms; the potential benefits of our product candidates; potential commercial opportunities; the timing of key milestones for our programs; the future financial condition, results of operations, business strategy and plans, and objectives of management for future strategy and operations; and statements about industry trends and other companies in the industry. These forward-looking statements are based on various assumptions, whether or not identified herein, and on the current expectations of the Company’s management, and they are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions.
Any discoveries announced by the Company are based solely on laboratory and animal studies. The Company has not conducted any studies that show similar efficacy or safety in humans. There can be no assurances that any treatment tested by the Company will prove safe or effective in humans, and any clinical benefit of any such treatment is subject to clinical trials and ultimate approval of its use in patients by the FDA. Such approval, if granted, could be years away.
Forward-looking statements are predictions, projections, and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. These forward-looking statements are not guarantees of future performance, conditions, or results, and involve a number of known and unknown risks, uncertainties, assumptions, and other important factors, many of which are outside the control of the Company that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.
You should carefully consider the foregoing factors and the other risks and uncertainties that are described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 and in the Company’s subsequent Quarterly Reports on Form 10-Q, and in other documents to be filed by the Company from time to time with the SEC and which are and will be available at www.sec.gov. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. We do not undertake any obligation to update any forward-looking statements made by us. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this filing. Accordingly, undue reliance should not be placed upon the forward-looking statements.
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Source: Ocean Biomedical, Inc.
