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Algorae Pharmaceuticals (ASX:1AI) has found its drug candidate AI-168 has strong cardioprotective qualities, performing better than existing first line FDA-approved beta blockers in three cardiovascular cell lines.
These results were based on preclinical studies of AI-168, whose composition was also refined as a result, with Algorae filing an International Patent Cooperation Treaty (PCT) application, enabling it to pursue patent protection for the drug candidate in commercially significant jurisdictions.
The preclinical tests were undertaken at Monash University Victorian Heart Institute Research Laboratories. They sought to assess the formulation of AI-168 and compare its performance with beta blockers using well-established in vitro models of cardiovascular disease.
AI-168 is a combination drug candidate comprised of a cardio selective beta blocker with cannabidiol.
In terms of intellectual property strategy, Algorae announced the filing of an initial patent application on November 23, with the more recent PCT patent application including data received after that point through the preclinical work. The latter application is an important one for international patent protection for AI-168.
Algorae shares moved up on the news, and at 13:24 AEDT, they were trading at 0.8 cents – a rise of 14.29% since the market opened.
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