SAN DIEGO and TEL AVIV, Israel and BOSTON, Oct. 16, 2017 /PRNewswire/ -- Sevion Therapeutics, Inc. (OTCQB:SVON) and Eloxx Pharmaceuticals Ltd., a clinical-stage biopharmaceutical company developing novel small molecule medicines for genetic diseases caused by nonsense mutations, today announced that the European Patent Office (EPO) has granted a patent covering the Company's lead product candidate, ELX-02, as well as other proprietary compounds. ELX-02 is a fifth-generation designer aminoglycoside optimized by medicinal chemistry approaches to act as a translational read-through inducing drug (TRID), and is currently under development by Eloxx Pharmaceuticals for the treatment of rare genetic diseases such as cystic fibrosis.
European Patent No. 2640734 entitled "Aminoglycosides and Uses Thereof in Treating Genetic Disorders" is directed to the composition of matter of ELX-02 and other compounds, as well as their uses in the treatment of genetic disorders caused by nonsense mutations. This patent application was previously granted in the U.S. (Patent Nos. 8,895,519; 9,175,029; and 9,616,079) and in Japan (Patent No. 5,960,712).
"We are very pleased to further expand and fortify our intellectual property coverage with this newly granted patent, extending ELX-02's market exclusivity across the hundreds of genetic diseases caused by nonsense mutations until at least 2031 in Europe," said Dr. Silvia Noiman, CEO and co-founder of Eloxx. "This additional patent further highlights the novelty of our approach to treating genetic diseases and underscores our commitment to continually maintain and reinforce the protection of our compounds."
About Eloxx Pharmaceuticals
Eloxx Pharmaceuticals is a clinical-stage biopharmaceutical company developing novel small molecule medicines to treat many rare and ultra-rare genetic diseases caused by nonsense mutations. Nonsense mutations are a class of gene defect resulting in absent or truncated nonfunctional proteins, accounting for some of the most severe phenotypes in genetic diseases. Eloxx's lead product candidate, ELX-02, is an optimized aminoglycoside designed to restore full-length functional proteins missing in patients with nonsense mutations. ELX-02 is entering Phase 2 clinical development for Cystic Fibrosis. Additional disease targets include Cystinosis, Mucopolysaccharidosis Type I (MPS I), Rett Syndrome, and Duchenne Muscular Dystrophy (DMD). Eloxx Pharmaceuticals was founded in 2013 and maintains offices in Boston, MA, and Rehovot, Israel.
Certain statements included in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from such statements expressed or implied herein as a result of a variety of factors, including, but not limited to: the Company's ability to continue as a going concern; the ability of the Company to consummate additional financings; the development of the Company's antibody technology; the approval of the Company's patent applications; the Company's ability to successfully defend its intellectual property or obtain the necessary licenses at a cost acceptable to the Company, if at all; the successful implementation of the Company's research and development programs and collaborations; the success of the Company's license agreements; the acceptance by the market of the Company's products; the timing and success of the Company's preliminary studies, preclinical research and clinical trials; competition and the timing of projects and trends in future operating performance; and the quotation of the Company's common stock on an over-the-counter securities market, as well as other factors expressed from time to time in the Company's periodic filings with the Securities and Exchange Commission (the "SEC"). As a result, this press release should be read in conjunction with the Company's periodic filings with the SEC. The forward-looking statements contained herein are made only as of the date of this press release, and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
Burns McClellan, Inc.
SOURCE Eloxx Pharmaceuticals Ltd.