TORONTO, June 4, 2018 /PRNewswire/ - Portage Biotech Inc. ("Portage" or "the Company") (Canadian Securities Exchange: PBT.U, OTC Markets : PTGEF), is pleased to announce that the US Patent Office has granted Stimunity its main patent, US2016/074507, entitled "Method for preparing viral particles with cyclic dinucleotide and use of said particles for inducing immune response." This application was filed in September 2014, and the claims covers any virus-like particle comprising a lipoprotein envelope including a viral fusogenic glycoprotein and that contains cGAMP inside. The patent also covers all the biological methods to produce these particles.
Stimunity's core technology cGAMP-VLP which activates the innate immune system and induces a systemic T cell response against tumor cells, is protected by a family of patents that have been exclusively licensed from Institut Curie and Institut National de la Santé et de la Recherche Medicale (INSERM).
Dr. Declan Doogan, CEO of Portage commented "We are pleased with the progress in R&D that the team at Stimunity has accomplished. This rapid grant of a patent in the US indicates the novelty with their approach to promoting tumor immunity."
Further information can be found at https://stimunity.com/static/Stimunity_Patent_Granted_2018.pdf
Portage Holds significant equity interest in Stimunity.
Stimunity is an early-stage research and development company focused on the development of STING agonists in cancer. The technology, licensed from Institut Curie, Inserm, and the University of Oxford, is based on a unique biologic approach which encapsulates endogenous STING-activating molecules in a Virus-Like Particle (VLP). Stimunity's drug has the potential to be best-in-class, activating the innate immune system and enhancing T-cell response against tumor cells with low immunogenicity.
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Portage is engaged in supporting the discovery and development of pharmaceutical and biotech products through clinical "proof of concept" with a focus on areas of unmet clinical need. Following proof of concept, Portage will seek to sell or license these products to large pharmaceutical or biotechnology companies for further development and commercialization. Portage has an interest in novel targeted therapies, stem cell therapies, and new indications for older marketed products that have been found to have novel patentable characteristics that bring new value to patients.
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SOURCE Portage Biotech Inc.