SteadyMed Receives Notice of Allowance for its European Patent Relating to Enhanced Reduction of Infusion-Site Pain
October 12 2017 - 8:30AM
SteadyMed Ltd. (Nasdaq:STDY), a specialty pharmaceutical company
focused on the development of drug product candidates to treat
orphan and high-value diseases with unmet parenteral delivery
needs, today announced that it has received a Notice of Allowance
from the European Patent Office for Patent Application No.
13720085.3 related to enhanced infusion-site pain reduction for
drug delivery devices.
“Currently, infusion-site pain is a common
patient complaint when certain therapeutic drugs are delivered
subcutaneously,” said Jonathan M.N. Rigby, President & CEO of
SteadyMed. “The patent application relates to the delivery of a
topical anesthetic, or other pain reducing drug, via the underside
of our PatchPump infusion system, at the same time a therapeutic
drug is delivered subcutaneously. The aim of this approach is to
effect a reduction in infusion-site pain caused by the therapeutic
drug. This is another significant patent to add to our robust
intellectual property portfolio.”
About SteadyMed
SteadyMed Ltd. is a specialty pharmaceutical
company focused on the development of drug products to treat orphan
and high value diseases with unmet parenteral delivery needs.
SteadyMed’s investigational drug product candidate, Trevyent®, is
designed to address a number of unmet needs in the treatment of
pulmonary arterial hypertension (PAH). Trevyent combines
SteadyMed’s preservative-free, treprostinil formulation with its
proprietary PatchPump®, which, if approved by the U.S. Food and
Drug Administration (FDA), will offer PAH patients a sterile,
pre-filled, pre-programmed, single-use, disposable infusion system
for parenteral treprostinil administration.
SteadyMed intends to commercialize Trevyent in
the U.S. and has signed an exclusive license and supply agreement
with Cardiome Pharma Corp. for the commercialization of Trevyent in
Europe, Canada and the Middle East, pending regulatory approvals.
SteadyMed has offices in San Ramon, California and Rehovot, Israel.
For additional information about SteadyMed please visit
www.steadymed.com.
Forward Looking Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements reflect the
company's current views with respect to certain current and future
events and are subject to various risks, uncertainties and
assumptions that could cause actual results to differ materially.
Risks and uncertainties include, but are not limited to, the risk
that Trevyent does not demonstrate clinical superiority to existing
parenteral treprostinil products, that when the Trevyent NDA is
resubmitted it is not accepted for filing by the FDA, that Trevyent
is not approved for commercialization by the FDA or approval is
delayed by patent litigation, the risk that drug development
involves a lengthy and expensive process with uncertain outcome,
that the company will continue to need additional funding, and that
the company may be unable to raise capital when needed, which would
force the company to delay, reduce or eliminate its product
candidate development programs and potentially cease operations.
The risks, uncertainties and assumptions referred to above are
discussed in detail in our reports filed with the Securities and
Exchange Commission, including our Quarterly Report on Form 10-Q
filed on August 11, 2017. The company does not undertake to
publicly update or revise any forward-looking statements to reflect
events or circumstances that may arise after the date hereof except
as may be required by law.
Contacts:Marylyn RigbySenior Director, Investor
Relations and Marketing925-272-4999mrigby@steadymed.com
The Ruth Group Lee Roth(646) 536-7012lroth@theruthgroup.com
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