Anavex retains Novak Druce Connolly Bove & Quigg to maximize value of intellectual property portfolio
VANCOUVER, Feb. 4, 2013 /PRNewswire/ - Anavex Life Sciences Corp. ("Anavex") (OTCQB: AVXL) is pleased to announce that it has retained specialized intellectual property law firm Novak Druce Connolly Bove & Quigg LLP ("Novak Druce") to assist in maximizing the value of the company's intellectual property (IP) portfolio. One of the largest IP boutique firms in the United States, Novak Druce is renowned for its entrepreneurial edge and commitment to proactive IP portfolio counseling.
"We believe that Anavex has discovered a class of therapeutic small molecules active in diseases of the central nervous system, including Alzheimer's, and cancer. Anavex is pursuing patent protection for these molecules and treatments," said Tom Skarpelos, director of Anavex. "Intellectual property, patents and proprietary technology rights are important cornerstones for any pharmaceutical company. As such, we intend to leverage these assets developing core therapeutics and out-licensing ancillary aspects."
"Sound intellectual property is central to drug development and commercialization," said Thomas M. Saunders of Novak Druce. "We will assist Anavex in a rigorous approach to creating and maintaining its patent portfolio and we are pleased to be working with the company to maximize these assets."
Mr. Saunders specializes in representing emerging pharmaceutical, medical technology and biotechnology concerns and addressing IP licensing. He has advised on intellectual property strategy development, patent portfolio preparation and management, and strategic partnering evaluation for more than 20 years. Mr. Saunders has a substantial background in biotechnology and chemical patent practice, facilitated by his graduate studies in physiology at Case Western Reserve University and Albany Medical College.
Anavex owns two U.S. patent applications, USSN 12/522,761 and USSN 13/201,271, and additional counterpart international patent applications.
About Anavex Life Sciences Corp.
Anavex Life Sciences Corp. (www.anavex.com) is a pharmaceutical company engaged in the development of novel drug candidates. ANAVEX 2-73, a drug candidate developed to treat Alzheimer's disease through disease modification, has undergone an initial Phase 1 human clinical trial and was well tolerated in doses up to 55mg. Sponsored pre-clinical studies indicate that ANAVEX 2-73 demonstrates anti-amnesic and neuroprotective properties. Anavex is a publicly traded corporation quoted as AVXL.
Statements in this press release that are not strictly historical in nature are forward-looking statements. These statements are only predictions based on current information and expectations and involve a number of risks and uncertainties. Actual events or results may differ materially from those projected in any of such statements due to various factors, including the risks and uncertainties inherent in drug discovery and development, which include, without limitation, the potential failure of development candidates to advance through preclinical studies or demonstrate safety and efficacy in clinical testing and the ability to pass clinical trials so as to move on to the next phase, our ability to finance development or satisfy the rigorous regulatory requirements for new drugs, our ability to attract and retain quality personnel, and that despite positive results, our competitors may offer better or cheaper alternatives. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement and Anavex Life Sciences Corp. undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.
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SOURCE Anavex Life Sciences Corp.