Last Updated on March 2, 2022 by GlobeNewsWire
SOLANA BEACH, Calif., March 02, 2022 (GLOBE NEWSWIRE) — Artelo Biosciences, Inc. (Nasdaq: ARTL), a clinical-stage pharmaceutical company focused on modulating lipid-signaling pathways to develop treatments for people living with cancer, pain, and neurological conditions, announced that the Company received a Notice of Allowance from the U.S. Patent and Trademark Office (USPTO) for patent application 16/835,383 entitled “Solid Forms of Cannabidiol and Uses Thereof” related to its ART12.11 program, a cocrystal composition of cannabidiol (CBD). In addition, the Company has pending foreign patent applications covering cocrystal composition-of-matter and method of use.
“The method of use claims of this patent combined with the CBD cocrystal’s composition of matter patent already issued in the US further enhances our overall intellectual property portfolio,” stated Gregory D. Gorgas, President and CEO of Artelo Biosciences. “Our strategy is to leverage the strength of our science and patents to develop important advancements in the treatment of serious conditions, such as PTSD and cancer, as we target large and underserved markets where we believe our patent portfolio provides a distinct competitive advantage.”
This patent claims methods for treating a disease or condition selected from central nervous system disorders, cardiovascular disorders, neurovascular disorders, neuromuscular disorders, cancers, autoimmune disorders, inflammation, pain, sleep disorders, posttraumatic stress disorder, posttraumatic stress syndrome; nausea, and hypoxia-ischemia. It is expected this patent will have a patent term until 2038, not including any possible patent term extensions.
ART12.11 is a proprietary cocrystal composition of cannabidiol (CBD). The crystal structure of CBD is known to exhibit solid polymorphism, or the ability to manifest in different forms. Artelo believes its cocrystal exists as a single crystal form and, as such, is anticipated to have advantages over other solid forms of CBD that exhibit polymorphism. Anticipated advantages of this single crystal structure include improved stability, solubility, and a more consistent absorption profile. Artelo believes these features will result in more consistent and improved bioavailability and may ultimately lead to improved safety and efficacy.
About Artelo Biosciences
Artelo Biosciences, Inc. is a clinical-stage pharmaceutical company dedicated to the development and commercialization of proprietary therapeutics that target lipid-signaling pathways, including the endocannabinoid system. Artelo is advancing a portfolio of broadly applicable product candidates designed to address significant unmet needs in multiple diseases and conditions, including anorexia, cancer, PTSD, pain, and inflammation. Led by proven pharmaceutical executives collaborating with highly respected researchers and technology experts, Artelo applies leading edge scientific, regulatory, and commercial discipline to develop high-impact therapies. More information is available at www.artelobio.com and Twitter: @ArteloBio.
Forward Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and Private Securities Litigation Reform Act, as amended, including those relating to Artelo’s product development, clinical and regulatory timelines, market opportunity, competitive position, possible or assumed future results of operations, business strategies, potential growth opportunities and other statement that are predictive in nature. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management’s current beliefs and assumptions. These statements may be identified by the use of forward-looking expressions, including, but not limited to, “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “potential,” “predict,” “project,” “should,” “would” and similar expressions and the negatives of those terms. These statements relate to future events or our financial performance and involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include those set forth in Artelo’s filings with the Securities and Exchange Commission, including our ability to raise additional capital in the future. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this press release. Artelo undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by applicable securities laws.
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