SOURCE: Ohr Pharmaceutical Inc.

November 13, 2013 08:00 ET

Ohr Pharmaceutical Receives Canadian Patent for Squalamine

NEW YORK, NY--(Marketwired - Nov 13, 2013) - Ohr Pharmaceutical (NASDAQ: OHRP), a pharmaceutical company focused on the development of novel therapeutics for large unmet medical needs, today announced the granting of Patent # CA 2606077, entitled "Polymorphic and Amorphous Salt Forms of Squalamine Dilactate" in Canada.

"We continue to develop squalamine in the clinic, as well as strengthen its intellectual property protection," said Dr. Irach B. Taraporewala, PhD, Chief Executive Officer and President of Ohr Pharmaceutical. "We are developing Squalamine eye drops for patients with neovascular age-related macular degeneration (wet AMD). Wet AMD is a common eye condition and a leading cause of vision loss among people 50 years of age and older. Patients with wet AMD are seeking options that reduce or eliminate the need to receive direct injections into the eye. Our Phase 2 clinical trial of Squalamine eye drops is continuing as planned, and we currently expect interim data in the second quarter of 2014.

The patent relates to the composition of matter for select squalamine salts, methods of their synthesis, their therapeutic use and their advantages related to manufacturing, product stability, and toxicity. More specifically, the patent is directed to various forms of the dilactate salt of squalamine and their utility in inhibiting neovascularization and endothelial cell proliferation.

About Ohr Pharmaceutical Inc.

Ohr Pharmaceutical Inc. (NASDAQ: OHRP) is a pharmaceutical company dedicated to the clinical development of new drugs for underserved therapeutic needs in large and growing markets. The Company is focused on advancing its pipeline products currently in phase II clinical development: Squalamine Eye Drops for the treatment of the wet form of age-related macular degeneration, and OHR/AVR118 for the treatment of cancer cachexia. Additional information on the company can be found at www.ohrpharmaceutical.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made only as the date thereof, and Ohr Pharmaceutical undertakes no obligation to update or revise the forward-looking statement whether as a result of new information, future events or otherwise. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including the future success of our scientific studies, our ability to successfully develop products, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments, the financial resources available to us, and general economic conditions. Shareholders and prospective investors are cautioned that no assurance of the efficacy of pharmaceutical products can be claimed or assured until final testing; and no assurance or warranty can be made that the FDA or Health Canada will approve final testing or marketing of any pharmaceutical product. Ohr's most recent Annual Report and subsequent Quarterly Reports discuss some of the important risk factors that may affect our business, results of operations and financial condition. We disclaim any intent to revise or update publicly any forward-looking statements for any reason.

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