Osta Biotechnologies Inc.
TSX VENTURE : OBI

Osta Biotechnologies Inc.

October 07, 2010 08:45 ET

Osta Receives Notice of Allowance From USPTO on Key Patent

MONTREAL, QUEBEC--(Marketwire - Oct. 7, 2010) - 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 United States Patent and Trademark Office (USPTO) for one of the key patents entitled "Compounds and methods for treating cancer and diseases of the central nervous system". The company is advancing the preclinical development of novel therapeutic agents for the treatment of cancer and Alzheimer's disease. To date, the company has obtained promising in-vivo results on the effectiveness of its novel molecules for the treatment of hormone refractory prostate cancer and metastatic melanoma. Subject to the availability of funds, the company plans to complete the preclinical toxicology studies required for filing an IND application to initiate Phase-I human clinical trials in North America.

About Osta Biotechnologies Inc.

Osta is a biopharmaceutical company listed on the TSX Venture Exchange currently focusing on developing therapeutics for Cancer and Alzheimer's disease.

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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Osta Biotechnologies Inc.
    Dr. Ajay Gupta
    Chairman & CEO
    514-626-9519