Osta Biotechnologies Inc.
TSX VENTURE : OBI

Osta Biotechnologies Inc.

January 15, 2008 08:45 ET

Osta Receives Notice of Allowance From United States Patent & Trademark Office on Key PEX Patent

MONTREAL, QUEBEC--(Marketwire - Jan. 15, 2008) - THE ISSUE OF THIS PRESS RELEASE IS LIMITED TO CANADA ONLY. THIS PRESS RELEASE SHOULD NOT BE ISSUED IN THE UNITED STATES THROUGH U.S. NEWS WIRE AGENCIES.

Osta Biotechnologies Inc. (TSX VENTURE:OBI) today announced that it has received a Notice of Allowance from the U.S. patent & trademark office for one of the key patents entitled "Use of PEX in the treatment of metabolic bone diseases". The company is advancing the preclinical development of a novel class of therapeutic agents for the treatment of osteoporosis by promoting bone formation based on PEX inhibition. To date, the company has obtained promising preclinical results on the safety and effectiveness of its lead molecule OB-14, a safe and effective small molecule therapeutic agent for the treatment of osteoporosis.

PHEX, formerly PEX (phosphate regulating gene with homologies to endopeptidases on the X chromosome) enzyme is a metalloendopeptidase which is found almost exclusively on the surface of bone forming cells called osteoblasts. Osta's researchers have shown that through proteolytic cleavage, osteoblast membrane-bound PHEX degrades Parathyroid hormone, PTH (1-34). Other researchers have shown that PHEX also cleaves Parathyroid hormone related peptide (PTHrP). PTH and PTHrP are known to stimulate the bone-forming activities of osteoblasts and are important for normal skeletal maintenance. The pre-clinical results obtained to date by Osta's researchers have clearly demonstrated that OB-14 is not only safe, but is also very effective in increasing local microenvironmental concentration of PTHrP in osteoblasts and leads to bone formation in mice treated with OB-14 daily for a period of 60 days. In addition, no significant toxicity or changes in the phosphate levels were noted in mice treated with OB-14 over a period of 60 days. Dr. Andrew Karaplis, President and Chief Scientific Officer of Osta commented "our results are truly exciting and clearly demonstrate that by inhibiting PHEX, and hence by modulating the micro-environmental concentrations of critical bone anabolic agents, namely PTH and/or PTHrP, it may be possible to present a novel strategy for the treatment of metabolic bone diseases such as osteoporosis".

Osta Biotechnologies Inc.

Osta is a biopharmaceutical company listed on the TSX Venture Exchange dedicated to developing novel diagnostics and therapeutics in the areas of Cancer, Alzheimer's disease, Osteoporosis, X-linked hypophosphatemic rickets (XLH) and Osteoarthritis.

Certain information in this press release is forward-looking and is subject to numerous risks and uncertainties. By their nature, such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. These risks include actions of Osta's competitors, and those inherent in scientific research and development.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Osta Biotechnologies Inc.
    Mr. Alain Geahchan
    Director of Operations
    514-567-5505
    or
    Osta Biotechnologies Inc.
    Dr. Ajay Gupta
    Chairman & CEO
    514-626-0322