MALVERN, Pa. - Annovis Bio Inc. (NYSE: ANVS), a clinical-stage drug platform company, has announced the filing of a new patent for a novel crystalline form of their drug buntanetap, aimed at treating neurodegenerative disorders such as Alzheimer's and Parkinson's Disease. The patent application, submitted to the U.S. Patent and Trademark Office, builds upon a provisional patent filed in June 2023 and covers the use of these new solid forms for neurodegenerative conditions.
The company has selected the most stable crystal form of buntanetap for upcoming animal bridge studies and the development of a manufacturing process. These studies have been submitted to the FDA, with discussions expected in July. Annovis Bio's goal is to proceed with the development of its drug and file a New Drug Application (NDA) with the FDA using the new crystal form.
Maria Maccecchini, Ph.D., Founder, President, and CEO of Annovis, stated that the invention of this new solid form and the patent application are significant achievements for the company. She emphasized that these developments would allow the company to advance its pipeline and improve the drug's properties, benefiting patients.
Buntanetap, previously known as Posiphen or ANVS401, targets neurodegeneration by inhibiting the formation of neurotoxic proteins and aims to reverse neurodegeneration in diseases such as Alzheimer's and Parkinson's, potentially restoring brain function and improving patient quality of life.
The composition of matter patent, if granted, would provide a 20-year term of protection for the new buntanetap crystalline form and its uses. Such a patent is crucial for pharmaceutical companies developing new drugs as it provides a protected period to develop and market a drug.
Annovis Bio, headquartered in Malvern, Pennsylvania, focuses on addressing neurodegeneration in diseases like Alzheimer's and Parkinson's through innovative approaches targeting multiple neurotoxic proteins.
This news article is based on a press release statement from Annovis Bio Inc.
In other recent news, Annovis Bio, Inc. has made significant strides in its clinical studies. The pharmaceutical company recently held its 2024 Annual Meeting of Stockholders, which resulted in the election of five board members and the approval of an amendment to its equity incentive plan. The meeting also ratified the appointment of Ernst & Young LLP as the independent auditors for the fiscal year ending December 31, 2024.
InvestingPro Insights
Annovis Bio Inc. (ANVS) has recently filed for a new patent, signaling potential advancements in their pipeline for neurodegenerative diseases treatment. Investors monitoring ANVS may find the following InvestingPro Insights relevant:
InvestingPro Data:
- Annovis Bio's stock has experienced high price volatility, reflecting a potentially higher risk investment.
- The company has faced challenges with weak gross profit margins, which could impact its financial stability.
- Analysts predict that Annovis Bio will become profitable this year, suggesting a potential turnaround for the company.
InvestingPro Tips:
- Annovis Bio does not pay a dividend to shareholders, indicating that any investment returns would likely be driven by stock price appreciation.
- The stock has seen a significant decline over the last three months, which may present a buying opportunity for investors who believe in the company's long-term prospects.
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