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Orbus granted European patent for its cefuroxime axetil product compositions
Orbus Pharma Inc. (ORB - TSX), ("Orbus"), today announced that the European Patent Office has granted a patent to Orbus for its Cefuroxime Axetil product compositions. The patent covers a unique fast release formulation which provides an optimized level of the drug to patients.
"We are very pleased to receive this patent as it demonstrates the validity of our unique formulation to the market. By covering all of the European Union, this patent provides intellectual property protection to the Orbus' licensees in a market with approximately 600 million people," said Greg Muir, Vice President Finance and CFO of Orbus.
This grant of a European Patent covers 32 member countries of the European Patent Organization, including the UK, France, Germany, Spain and Italy. Orbus currently has license agreements with companies in Germany, France, Italy, Spain, Portugal, Belgium, Luxemburg and Denmark. The company continues to seek licensing partners throughout Europe and North America.
Cefuroxime Axetil is a broad spectrum antibiotic for the treatment of respiratory tract infections. Orbus manufactures the product embodying the patent at its production facility in Cambridge, Ontario, and will be exporting to Europe under both specific country regulations and European wide mutual recognition regulations.
Orbus Pharma Inc., headquartered in Markham, Ontario and listed on The Toronto Stock Exchange under the symbol ORB, is pursuing an integrated strategy of: (1) generic drug development, using proprietary delivery systems for certain products; (2) product out-licensing; and (3) pharmaceutical contract manufacturing and related services. For more information please visit www.orbus.ca.