SOURCE: Adeona Pharmaceuticals, Inc.

Adeona Pharmaceuticals, Inc.

February 11, 2009 08:30 ET

Adeona Pharmaceuticals Receives Notice of Allowance of Claims Relating to Heat Shock Protein dnaJ by Japanese Patent Office

ANN ARBOR, MI--(Marketwire - February 11, 2009) - Adeona Pharmaceuticals, Inc. (AMEX: AEN), a specialty pharmaceutical company developing innovative late-stage drug candidates for the treatment of autoimmune and central nervous system diseases, announced today that it has received a notice of allowance for claims from the Japanese patent office for patent application no. 2002-539369. This notice of allowance covers claims relating to various heat shock protein sequences which are derived from dnaJ.

"This notice of allowance provides further intellectual property protection for various analog molecules which are related to dnaJP1, our oral, once-daily therapy for the treatment of rheumatoid arthritis (RA) which has already completed a double-blind, placebo-controlled, phase II clinical trial," said Nicholas Stergis, Adeona's Chief Executive Officer.

Mr. Stergis went on to say, "Upon issuance, we will add this patent to our growing set of intellectual property which encompasses over 47 issued, pending U.S. and international patents related to this novel technology."

About Oral dnaJP1

Oral dnaJP1 is a 14 amino acid sequence (QKRAAYDQYGHAAFE) delivered once daily to RA patients. The sequence of amino acids above is expressed on the surface of cells during an immune response is expressed on approximately 70% of RA patients and the mechanism of action is believed to be immune tolerance. Oral dnaJP1 has completed a 160 patient double-blind, placebo controlled phase II clinical trial in RA patients which was funded by a $5 million grant from the NIH.

About Rheumatoid Arthritis

Rheumatoid arthritis is a chronic inflammatory disease that leads to pain, stiffness, swelling and limitation in the motion and function of multiple joints. If left untreated, rheumatoid arthritis can produce serious destruction of joints that frequently leads to permanent disability. The disease currently affects over two million Americans, almost 1% of the population, and is two to three times more prevalent in women. Over 20 million people suffer from rheumatoid arthritis worldwide and the global market is estimated at over $6.3 billion. DMARDs, including biologics, accounted for nearly $5.0 billion of that figure.

About Adeona Pharmaceuticals, Inc.

Adeona Pharmaceuticals, Inc. is a specialty pharmaceutical company that is developing proprietary, late-stage drug candidates for the treatment of autoimmune and central nervous diseases. Adeona's strategy is to exclusively in-license proprietary, clinical-stage drug candidates and to complete the further clinical testing, manufacturing and regulatory requirements and seek marketing authorizations. Adeona is focused on treatments for rheumatoid arthritis, multiple sclerosis, and dry age related macular degeneration (AMD). For further information, please visit www.adeonapharma.com.

This release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding Adeona's commercialization plans for its product candidates. Words such as, but not limited to, "look forward to," "believe," "expect," "anticipate," "estimate," "intend," "plan," "targets," "likely," "will," "would," "should," and "could," and similar expressions or words identify forward-looking statements. Such forward-looking statements are based upon current expectations that involve risks, changes in circumstances, assumptions and uncertainties. Adeona is at an early stage of development and may not ever have any products that generate significant revenue. Important factors that could cause actual results to differ materially from those reflected in Adeona's forward-looking statements include, among others, a failure of Adeona's product candidates to be demonstrably safe and effective, a failure of our products including, dnaJP1, TRIMESTA, Zinthionein, and flupirtine to provide favorable results, a failure to obtain regulatory approval for the company's products or to comply with ongoing regulatory requirements, a lack of acceptance of Adeona's product candidates in the marketplace, a failure of the company to become or remain profitable, Adeona's inability to obtain the capital necessary to fund its research and development activities, a loss of any of the company's key scientists or management personnel, and other factors described in Adeona's report on Form 10-Q for the quarter ended September 30, 2008 and any other information contained within our public filings with the SEC. No forward-looking statements can be guaranteed and actual results may differ materially from such statements. The information in this release is provided only as of the date of this release, and Adeona undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

Contact Information

  • For Further Information, Contact:
    Nicholas Stergis
    Chief Executive Officer
    (734) 332-7800