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Canopus BioPharma, Inc, a biotechnology company, yesterday announced the signing of a licensing agreement with the Wisconsin Alumni Research Foundation (WARF), an organisation serving the University of Wisconsin-Madison scientific community in the US by patenting the discoveries of UW-Madison researchers and licensing these technologies to leading companies in Wisconsin, the US and worldwide.
The agreement provides comprehensive licensing rights and patent protection relating to Canopus’ Phase II oncology drug candidate, CB1400.
“Securing the rights to the WARF patents strengthens Canopus BioPharma’s intellectual property position for future licensing opportunities of CB1400, one of our most exciting products,” said Patrick Prendergast, Chairman and Chief Executive Officer of Canopus BioPharma.
“In the near future, we expect to announce important results from our studies using CB1400, which will further validate the potential significance of our drug for oncology and related indications.”
Canopus BioPharma expects to develop CB1400 as a method for preventing and reducing mucositis (lesions in the gastrointestinal and oral mucosa caused by chemo- and/or radiotherapy). The domestic market alone for a preventative anti-mucositis agent is estimated to be over $1bn per annum. The compound underlying CB1400 had been previously developed and patented by a major pharmaceutical company as an anti-parasitic agent.
Canopus discovered that this approved drug was highly effective for an alternative indication, specifically for use in preventing mucositis. Canopus BioPharma’s market opportunity with CB1400 includes various applications associated with cancer therapy and cancer treatment side effects.