Date: Nov 18, 2014 Source: Company Data (
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DANBURY, CT -- (Marketwired) -- 11/18/14 -- Biodel Inc. (NASDAQ: BIOD) announced that it has successfully defended oppositions to two of its granted European patents for its ultra-rapid-acting insulin formulations, EP 2 319 500 and EP 2 106 790. A third party opposed Biodel's patents in July 2013, but the Opposition Division at the European Patent Office (EPO) recently ruled in favor of the validity of Biodel's patents. The EPO tribunal ruled that all claims of both patents are novel and inventive. Biodel therefore retains all of its patent claims as originally granted.
Biodel's proprietary combination of excipients, when formulated with recombinant human insulin or rapid-acting insulin analogs, alters the pharmacokinetic and pharmacodynamic profiles of the insulin such that it is absorbed more rapidly than current marketed comparators when administered to patients. A key feature of Biodel's formulation technology is that it allows the insulin to disassociate from the six molecule, or hexameric, form to the single molecule form and inhibits re-association to the hexameric form. Biodel believes its ultra-rapid-acting insulin formulations may be more therapeutically effective than many commercially available insulin products.
Dr. Errol De Souza, president and chief executive officer of Biodel, stated: "We were confident that the claims of our two patents were valid and are pleased that the EPO has ruled in our favor. This outcome further validates the strength of Biodel's patent portfolio and the benefits that may be afforded to potential licensees."
About Biodel Inc.
Biodel Inc. is a specialty biopharmaceutical company focused on the development and commercialization of innovative treatments for diabetes that may be safer, more effective and more convenient for patients. Biodel's product candidates are developed by applying proprietary technologies to existing drugs in order to improve their therapeutic profiles. More information about Biodel is available at www.biodel.com.
Safe-Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements about future activities related to the clinical development plans for Biodel's product candidates, potential timing, design and outcomes of clinical trials and Biodel's ability to develop and commercialize its product candidates. Forward-looking statements represent Biodel's management's judgment regarding future events. All statements, other than statements of historical facts, including statements regarding Biodel's strategy, future operations, future clinical trial results, future financial position, future revenues, projected costs, prospects, plans and objectives of management are forward-looking statements. The words "anticipates," "believes," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "projects," "should," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Biodel's forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual results, performance or achievements to differ materially from those described or implied in the forward-looking statements, including, but not limited to, the progress, timing or success of Biodel's research and development and clinical programs for Biodel's product candidates; Biodel's ability to conduct the development work necessary to finalize the formulation and design of Biodel's dual-chamber glucagon rescue product candidate, as well as the preclinical studies, clinical trials and manufacturing activities necessary to support the filing of a new drug application, or NDA, to the U.S. Food and Drug Administration, or FDA, for that product candidate; Biodel's ability to engage a strategic partner in the further development of Biodel's prandial ultra-rapid-acting insulin formulations, including BIOD-531, which uses regular human insulin, or RHI, as the active pharmaceutical ingredient, and Biodel's insulin analog-based formulations; the success of Biodel's formulation development work to improve the stability of Biodel's newer ultra-rapid-acting insulin analog-based formulations while maintaining the pharmacokinetic and injection site toleration characteristics associated with earlier formulations; the results of Biodel's real-time stability programs for Biodel's RHI-, insulin analog- and glucagon-based product candidates, including the reproducibility of earlier, smaller scale, stability studies and Biodel's ability to accurately project long term stability on the basis of accelerated testing; Biodel's ability to accurately anticipate technical challenges that the company may face in the development of Biodel's ultra-rapid-acting RHI- and insulin analog-based product candidates or Biodel's glucagon rescue product candidates; Biodel's ability to secure approval by the FDA for Biodel's product candidates under Section 505(b)(2) of the Federal Food, Drug and Cosmetic Act; Biodel's ability to enter into collaboration arrangements for the commercialization of Biodel's product candidates and the success or failure of any such collaborations into which the company enters, or Biodel's ability to commercialize its product candidates on its own; Biodel's ability to enforce Biodel's patents for Biodel's product candidates and Biodel's ability to secure additional patents for Biodel's product candidates; and other factors identified in our most recent report on Form 10-Q for the quarter ended December 31, 2013. The company disclaims any obligation to update any forward-looking statements as a result of events occurring after the date of this press release.
