Biodexa (NASDAQ:BDRX) Allowed U.S. Patent Covering Tolimidone

DENVER, Colo., Feb. 7, 2024 ( Biodexa Pharmaceuticals PLC (NASDAQ:BDRX) stated, this morning, that the U.S. Patent and Trademark Office allowed U.S. patent application No. 16/546,595 titled “Prevention of Pancreatic Cell Degeneration” to be exclusively licensed to Biodexa by Melior Pharmaceuticals, Inc., along with other patents, in a December 2023 transaction.

BDRX is trading at $1.63, up $0.0999 (+6.53%), on 2.8M shares traded.   

Its 52-week range is $1.25 to $4.585. BDRX hit a new 52-week low on Monday and it’s fading from this morning’s premarket high, $2.60, so keep an eye on if the volume flow can pick up in the regular trading session.

Biodexa plans to initiate a Phase 2 clinical program of tolimidone in Type 1 diabetes, following several preclinical studies demonstrating its role in beta cell survival

Stephen Stamp, CEO and CFO of Biodexa, commented “This soon-to-be-issued patent is expected to provide market exclusivity for tolimidone in the U.S. and underpins our investment thesis in ongoing preclinical studies and an upcoming Phase 2 program in Type 1 diabetes patients which we expect to start in next quarter.”

Biodexa Pharmaceuticals PLC is a clinical stage biopharmaceutical company developing a pipeline of innovative products for the treatment of diseases with unmet medical needs. The Company’s lead development programmes include tolimidone, under development as a novel agent for the treatment of type 1 diabetes and MTX110, which is being studied in aggressive rare/orphan brain cancer indications.

Biodexa website:

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