Pro-Tect, Inc. Acquires Revolutionary Drug Delivery Patents
By Pro-tect Pharmaceuticals Inc., PRNESunday, April 25, 2010
WEST CALDWELL, New Jersey, April 26, 2010 - Pro-Tect Pharmaceuticals, Inc. (PRTT) announced today that it has
completed the acquisition of multiple patents and patents-pending from
Nectid, Inc., that enable three revolutionary drug delivery technologies.
The acquired patents would enable Pro-Tect to provide efficient,
effective drug delivery platforms for three essential yet currently unmet
needs:
-- A gastro-retentive platform for drugs that otherwise have short time windows for absorption -- An abuse deterrent platform for prescription drugs that are prone to abuse, especially narcotic pain-killers -- A once-daily platform that allows two or more drugs commonly taken in combination to be delivered via a single dose with fewer side effects
"It's incredible to us that no one previously has developed delivery
platforms that meet such obvious and crucial needs," said Pro-Tect CEO Bill
Abajian. "In particular, the ability to treat long-term pain without patients
becoming opioid-addicted would fundamentally change pain management. We're
excited that the success of these drug delivery platforms could not just
improve the quality of life for so many people, but actually save lives."
In the near term, Pro-Tect intends to proceed with a comprehensive
program to develop and commercialize once-daily drugs for diabetic
neuropathic pain, fibromyalgia, postherpetic neuralgia and epilepsy.
Pro-Tect also plans to develop and commercialize once-daily opioid
combinations as well as abuse-deterrent opioid combinations for moderate to
severe pain. This patents acquisition includes a pain project that is already
under discussion for a potential licensing agreement with a multinational
pharmaceutical manufacturer.
About Pro-Tect Pharmaceuticals, Inc.
Based in West Caldwell, New Jersey, Pro-Tect (PRTT) is a publicly held
drug delivery and new product development company. Pro-Tect applies its
proprietary drug delivery technologies to develop clinically effective drugs
and is building a robust pipeline of product candidates based on its
proprietary technologies, scientific knowledge and clinical expertise. For
more information, visit our newly launched website at
www.protectpharma.com.
Safe Harbor Statement
This news release may contain certain forward-looking statements and
information concerning Pro-Tect's business, operations, financial condition
and prospects. These statements are subject to various risks and
uncertainties. Actual results could differ materially from those currently
anticipated due to a number of factors. The information set forth herein
should be read in light of such risks and uncertainties. The Company assumes
no duty or obligation to update these statements at any future date.
Bill Abajian, CEO, +1-973-568-1617, abajian at protectpharma.com
Tags: April 26, France, Germany, new jersey, Pro-tect Pharmaceuticals Inc., United Kingdom, West Caldwell