AUSTIN, Texas, June 30, 2014 (GLOBE NEWSWIRE) -- Mati Therapeutics Inc. ("Mati") announced today that it has been granted U.S. Patent No. 8,747,884 entitled "Nasolacrimal Drainage System Implants For Drug Therapy." The patent provides coverage for important elements of Mati's novel punctal plug delivery system for treatment of ocular indications ("PPDS"), including certain features for retaining the punctal plug within the nasolacrimal system of the eye during drug elution.
Mati is actively prosecuting and maintaining 17 patent families related to many elements of the PPDS platform and related product candidates. At present, a total of 40 patents have been granted or allowed, including 4 U.S. patents issued in the first half of 2014, and 95 applications are pending in the U.S. and various other jurisdictions, including Europe, Japan, Canada, Korea, Israel, China, Brazil, Mexico and India. The earliest filed patent family has a projected expiry date in 2024, with other families projected to expire at different times through 2034.
"We recognize the value of securing patent coverage for our PPDS technology. Mati has an extensive international intellectual property portfolio, including patent applications and several granted patents," commented Bob Butchofsky, Mati's President. "We believe the PPDS platform technology can potentially be used to treat several ocular indications, including glaucoma, post-cataract surgery therapies, ocular allergies and dry eye disease, each representing potentially substantial market opportunities for Mati."
Mati continues to develop, support and maintain its intellectual property portfolio with the goal of providing protection from competitors and further expanding the patent coverage for the PPDS platform. While the protection afforded by intellectual property is subject to uncertainties, Mati believes that its patent portfolio provides meaningful protection for the PPDS delivery platform.
Mati also announced today that it has registered the trademark Evolute® as a potential brand name for the PPDS platform.
About Mati Therapeutics Inc.
Mati is developing PPDS, a sustained ocular drug delivery platform that Mati believes has the potential to treat a range of ocular indications. The platform utilizes a device called a punctal plug, which is inserted into a patient's tear duct (or punctum). The device has already been approved to treat dry eye syndrome, but Mati is the first to conduct clinical trials in the U.S. using punctal plugs as an anchoring device for a drug delivery platform. A drug-eluting core is inserted into Mati's proprietary punctal plug, which allows medication to be continuously released into the tear film of the eye over a period of time. Mati believes PPDS has the potential to become a more reliable alternative to several eye drop therapies, which can be ineffective because many patients are unwilling or unable to adhere to self-administered eye-drop regimens.
L-PPDS is the first product candidate that Mati is seeking to develop and commercialize using the PPDS platform. L-PPDS utilizes a drug eluting core containing latanoprost, which is currently used as an eye drop medication to treat elevated intraocular pressure in patients suffering from ocular hypertension and open-angle glaucoma. Since acquiring the PPDS development program from QLT Inc. in April 2013, Mati has designed and initiated a final Phase II trial of L-PPDS. If the results of the Phase II trial are favorable, Mati intends to use the results to finalize a protocol for a Phase III pivotal trial of L-PPDS. There can be no assurance that Mati will be able to seek or secure the regulatory approvals needed to sell L-PPDS or any other product using PPDS.
Mati was founded by former senior officers of QLT Inc., including Bob Butchofsky, President of Mati and former President of QLT Inc., and Chris Muller, former Head of Cornea, Refractive and Medical Marketing at Abbott Medical Optics. Combined, the senior management team of Mati has over 75 years of ocular development and commercial experience. Mati's corporate head office is in Austin, Texas. Mati undertakes research and development activities through its wholly-owned Canadian subsidiary, Mati Therapeutics (Canada) Inc.
Forward-Looking Statements
This press release includes forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) that are not based on present or historical facts, including statements about Mati's patent portfolio and intellectual property rights, development plans for PPDS, potential applications and markets for PPDS product candidates and clinical trials for L-PPDS. These statements are based on beliefs and assumptions of management and are subject to a number of risks and uncertainties, including (without limitation) substantial risks and uncertainties related to: (i) Mati's ability to secure, maintain and defend patents and other intellectual property rights and the protection that may be afforded by such rights, (ii) developing, seeking approvals for and commercializing new pharmaceutical products, including securing financing to complete research and development and uncertainty about the outcomes of product trials, (iii) whether markets will exist for products that may be developed by Mati and whether products can achieve market share and be manufactured and sold for a profit, (iv) Mati's ability to manage growth and attract and retain key personnel, (v) Mati's ability to respond to competition, and (vi) other known and currently unknown risk factors affecting pharmaceutical product development generally and Mati's business in particular. These and other risks and uncertainties may cause actual results to differ materially from results expressed or implied by forward-looking statements in this press release and may affect the prospects and viability of Mati's business. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. Mati does not intend, nor is it obliged, to update this press release (including any forward-looking statements contained herein) to reflect events or circumstances arising in the future.