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Biotech Holdings patent rights strengthened by new United States patent.

President of Biotech Holdings (Vancouver, Canada; 888-216-1111) announced that a United States Patent 6,291,495, detailing methods for use of insulin-sensitizing drugs in combination therapies for treatment of all forms of diabetes, was granted to him on September 18, 2001. Simultaneously, Mr. Rieveley announced that he has assigned to Biotech Holdings Ltd. ("Biotech") all rights relating to DIAB II that arise from this new United States patent.

"I am pleased to announce that I have assigned to Biotech Holdings Ltd. all patent rights for use of DIAB II that arise from this new patent . The assignment of rights is for the twenty-year life of the patent and covers a wide range of ways in which DIAB II can be used. This patent extends our patent protection to 2021 in the United States and to a similar date in other markets, depending on variations in length of patent protection. The patent rights that have been assigned open the door to a wide range of possible combination therapies utilizing DIAB II. Each such combination therapy can benefit Biotech Holdings with a long-term revenue stream," Mr. Rieveley said.

"The fact that this new patent has now been issued by the United States Patent and Trademark Office, as a divisional patent extending our first patent , gives us a very strong position in the fast-growing field of combination therapy of Type II Diabetes," Mr. Rieveley added.

"This further strengthening of patent protection for DIAB II combination therapies will mean that major pharmaceutical firms marketing any form of standard treatment of Type II Diabetes will want to look closely at the possibility of developing new proprietary combinations with DIAB II as a key component. Possible combinations with sulfonylurea drugs, alpha-glucosidase inhibitors and biguanide drugs can be foreseen. I should note that the rights assigned to Biotech Holdings also include new, proprietary combinations using DIAB II together with injected or oral insulin; such combination products could be utilized by both Type I diabetics and Type II diabetics, to reduce insulin requirements," Mr. Rieveley stated.

"The patent assignment also provides the basis for combining DIAB II with existing generic drugs - such as generic metformin and generic sulfonylurea - to form new products. I am pleased to say that contacts with several major pharmaceutical firms are underway in this regard," Mr. Rieveley added.

DIAB II is an insulin-receptor sensitizer, a new class of drugs for controlling the chronically high blood sugar levels that typify diabetes. DIAB II, in tablet form, works by improving the patient's ability to utilize insulin, the hormone that controls blood sugar levels.
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Comment:Biotech Holdings patent rights strengthened by new United States patent.
Publication:BIOTECH Patent News
Article Type:Brief Article
Geographic Code:1CANA
Date:Oct 1, 2001
Words:427
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