Healthcare Industry News: protein therapeutics
News Release - April 24, 2008
Latona Announces the Acquistion of Patent Rights and Orphan Drug Status to Novel Late Stage Drug Compound for Juvenile and Adult Rheumatoid ArthritisPHOENIX, April 24 (HSMN NewsFeed) -- Latona Life Sciences Inc. (Latona) announced today that it has entered into two agreements for the acquisition of patent rights and orphan drug status to a novel late-stage drug, trademarked "Oralgam," for the treatment of Juvenile and Adult Rheumatoid Arthritis.
Latona has entered into a licensing agreement to acquire the patent rights to Oralgam with Research Corporation Technologies, Inc., of Tucson, Arizona. Under the terms of this agreement, Latona will acquire the exclusive worldwide rights to Oralgam for the treatment of Adult Rheumatoid Arthritis and the treatment of auto-immune induced hearing loss.
Latona has also entered into a purchase and sale agreement to acquire the Orphan Drug Status, clinical data set and trademark to Oralgam with protein therapeutics Inc. of Tucson, Arizona. Under the terms of this agreement Latona will acquire the Orphan Drug Status to Oralgam for the treatment of Juvenile Rheumatoid Arthritis, GI Dysfunction in Autism and Dermatomyostis.
"Latona is extremely pleased to acquire the worldwide rights to Oralgam," stated Joseph Koziak, CEO of Latona. "We believe that Oralgam has the potential to provide significant relief to those who suffer from Arthritis and potential other auto-immune disorders."
About Oralgam - Oralgam is a late Phase II drug used for the treatment of immune mediated diseases. A novel product, Oralgam has shown efficacy in the treatment of juvenile arthritis in patients who have had limited success with other known pharmaceutical treatments. A platform technology, Oralgam is expected to be clinically tested in other immune mediated diseases.
About Latona Life Sciences - Latona is a privately held specialty pharmaceutical company dedicated to development and commercialization of immune mediated diseases.
About Research Corporation Technologies (RCT) - RCT (http://www.rctech.com) is a technology, investment and management company that provides early stage funding and development for promising biomedical companies and technologies. RCT focuses on technology investments with origins from universities and research institutions worldwide. RCT has assets of more than $300 million to advance technology and development through venture investment partnerships and special licensing programs.
Source: Latona Life Sciences
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