BUFFALO, NY--(Marketwire - October 4, 2010) - Cleveland BioLabs, Inc. (
Yakov Kogan, Ph.D., MBA, Chief Operating Officer of Cleveland BioLabs, noted that these patents represent further validation of CBLB612's program and may facilitate future partnering discussions. "This is the first set of patent approvals for CBLB612. We have been progressing well with patent examination in various geographies and we hope to continue receiving grant notifications from different jurisdictions over the coming months."
Protectan CBLB612 is a proprietary synthetic agent that acts as a potent stimulator of hematopoietic stem cell proliferation and mobilization to peripheral blood, as demonstrated in both mice and non-human primates.
In September 2009, Cleveland BioLabs entered into a licensing agreement for CBLB612 with Zhejiang Hisun Pharmaceutical Co. (Hisun), a leading pharmaceutical manufacturer in the People's Republic of China. The agreement grants Hisun exclusive rights to develop and commercialize CBLB612 in China in exchange for $1.65 million in upfront product development payments, as well as a 10% royalty on any future sales.
About Cleveland BioLabs, Inc.
Cleveland BioLabs, Inc. is a drug discovery and development company leveraging its proprietary discoveries around programmed cell death to develop treatments for cancer and protection of normal tissues from exposure to radiation and other stresses. The Company has strategic partnerships with the Cleveland Clinic, Roswell Park Cancer Institute, ChemBridge Corporation and the Armed Forces Radiobiology Research Institute. To learn more about Cleveland BioLabs, Inc., please visit the company's website at http://www.cbiolabs.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors.
These factors include, among others, the Company's history of operating losses and the potential for future losses, which may lead the Company to not be able to continue as a going concern; the Company's need for substantial additional financing to meet its business objectives; the potential for the loss of funding from the Company's R&D grants and contracts; the Company's failure to successfully and timely develop new products; the risks inherent in the early stages of drug development and in conducting clinical trials; the Company's inability to obtain regulatory approval in a timely manner or at all; the Company's collaborative relationships and the financial risks related thereto; the Company's ability to comply with its obligations under license agreements; the potential for significant product liability claims; and the Company's ability to comply with various safety, environmental and other governmental regulations. Some of these factors could cause future results to materially differ from the recent results or those projected in forward-looking statements. See also the "Risk Factors" and "Forward-Looking Statements" described in the Company's periodic filings with the Securities and Exchange Commission.
Contact Information:
Contact:
Rachel Levine
Director Corporate Development & Communications
Cleveland BioLabs, Inc.
T: (646) 284-9439
E: rlevine@cbiolabs.com