Conduit Pharmaceuticals Awarded Australian Patent for Its Lead Asset, AZD1656
DENVER, Colo., Jul 16, 2024 (247marketnews.com)- Conduit Pharmaceuticals Inc. (Nasdaq:CDT) stated that it received approval for a composition of matter patent application by IP Australia, achieving successful examination of a patent on its lead asset, an HK-4 Glucokinase Activator which targets a wide range of autoimmune diseases, as part of Conduit’s Patent Prosecution Highway efforts to fast-track patent examination in major jurisdictions including the U.S., Europe and Japan.
David Tapolczay, Conduit’s CEO, stated, “The approval of the composition of matter patent in Australia for our lead asset augments our commitment to optimizing the value of our intellectual property portfolio.
“With up to 20 years of patent protection and drug substance classification secured, this patent not only validates the robustness of our internal R&D capabilities but also significantly strengthen our position for future out-licensing opportunities.”
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