Join our daily newsletter At The Bell to receive exclusive market insights
- Island Pharmaceuticals (ILA) receives a key patent grant by the Canadian Intellectual Property Office (CIPO) in relation to its lead drug candidate, ISLA-101
- The patent expires on April 16, 2034 and covers a method of treating or preventing dengue fever and other mosquito-borne diseases
- CEO David Foster says the patent further protects the company’s lead program which is critical as Island advances rapidly towards the commencement of clinical trials
- This is the company’s first patent issued in Canada, adding to an estate for the same coverage in Australia, the US, Brazil, and Singapore
- Shares in Island are up 7.89 per cent to trade at 20.5 cents at 11:58 am AEDT
Island Pharmaceuticals (ILA) has been granted a key patent by the Canadian Intellectual Property Office (CIPO) in relation to its lead drug candidate, ISLA-101.
ISLA-100 is the company’s drug candidate being repurposed for the prevention and treatment of dengue fever and other mosquito-borne diseases.
The patent expires on April 16, 2034 and covers a method of treating or preventing dengue fever and other mosquito-borne diseases.
CEO David Foster said the patent further protects the company’s lead program which is critical as Island advances rapidly towards the commencement of its planned clinical trials.
“We are excited about the grant of this Canadian patent, which adds to Island’s growing intellectual property portfolio and supports the broad applicability of ISLA-101 for different mosquito bone viruses,” Dr Foster said.
“Increasingly there are reports about mosquito borne viral disease outbreaks in the news which continue to represent indications of major unmet medical need, creating a strong
market for new treatments like ISLA-101.”
This is the company’s first patent issued in Canada, adding to an estate for the same coverage in Australia, the US, Brazil, and Singapore.
The company has licensed the IP portfolio generated by Monash University.
Shares in Island were up 7.89 per cent to trade at 20.5 cents at 11:58 am AEDT.
