CRANFORD, N.J., June 20, 2017 /PRNewswire/ -- Citius Pharmaceuticals, Inc. ("Citius") (OTC BB: CTXRD), a specialty pharmaceutical company focused on adjunctive cancer care and critical care drug products, announced today it has received notification from MD Anderson Cancer Center that US Patent Application (US 2017/0151373 A1) has been published by the US Patent Office, date of publication June 1, 2017: the application was originally filed on November 4, 2016.
The patent invention overcomes limitations in mixing antimicrobial solutions in which components may precipitate because of physical and/or chemical factors, thus limiting the stability of the post-mix solutions. Citius holds the exclusive worldwide license which provides access to this patented technology for development and commercialization of Mino-Lok.
"The stability of the Mino-Lok solution post mixing was limited to a time period of about 24 hours prior to use," said Mr. Myron Holubiak, President and CEO of Citius Pharmaceuticals. "We recognized that it would be beneficial for product acceptance and utility if improvement in the post-mix stability could be achieved; this would enable standard pharmacy process to be employed in the delivery of Mino-Lok to the patient, and would allow for several days storage of ready-to-use Mino-Lok. Aside from also offering greater intellectual property protection if the patent is granted, the post-mix stability of Mino-Lok is important to the potential world market for the product. Citius is committed to developing Mino-Lok as a cost saving therapy in all countries, as we believe Mino-Lok should find receptive markets worldwide."
Citius is currently recruiting sites for phase 3 trials of Mino-Lok in the United States. There are currently no approved therapies to salvage infected CVCs.
Mino-LokTM is under investigation and not approved for commercial use.
About Citius Pharmaceuticals, Inc.
Citius is a specialty pharmaceutical company dedicated to the development and commercialization of critical care products, with a focus on anti-infectives, cancer care and unique prescription products that use innovative, patented or proprietary formulations of previously-approved active pharmaceutical ingredients. We seek to achieve leading market positions by providing therapeutic products that address unmet medical needs; by using previously approved drugs with substantial safety and efficacy data, we seek to reduce the risks associated with pharmaceutical product development and regulatory requirements. Citius develops products that have intellectual property protection and competitive advantages to existing therapeutic approaches. For more information, please visit www.citiuspharma.com.
About MD Anderson Cancer Center
The University of Texas MD Anderson Cancer Center in Houston ranks as one of the world's most respected facilities for cancer patient care, research, education and prevention. The institution's sole mission is to end cancer for patients and their families around the world. MD Anderson is one of only 45 comprehensive cancer centers designated by the National Cancer Institute (NCI) and is ranked No.1 for cancer care in U.S. News & World Report's most recent "Best Hospital's" survey. The center has ranked as one of the nation's top two hospitals since the survey began in 1990, and has ranked first for 11 of the past 14 years. MD Anderson receives a cancer center support grant from the NCI of the National Institutes of Health (P30 CA016672).
This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are made based on our expectations and beliefs concerning future events impacting Citius. You can identify these statements by the fact that they use words such as "will," "anticipate," "estimate," "expect," "should," and "may" and other words and terms of similar meaning or use of future dates. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated are: risks related to our growth strategy; risks relating to the results of research and development activities; uncertainties relating to preclinical and clinical testing; the early stage of products under development; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; our ability to identify, acquire, close and integrate product candidates and companies successfully and on a timely basis; our dependence on third-party suppliers; our ability to attract, integrate, and retain key personnel; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.
Vice President, Corporate Development
SOURCE Citius Pharmaceuticals, Inc.