OKYO Pharma Ltd (the "Company"), a biopharmaceutical firm specializing in the development of treatments for ocular diseases, has announced the grant of a significant U.S. Patent for its leading drug candidate. The patent, numbered 12,053,501 and issued on August 6th, is titled "Methods for Treating Symptoms of Dry Eye Disease" (DED).
The patent covers the use of the Company's drug, OK-101, to alleviate symptoms such as irritation, burning sensation, and blurred vision in patients suffering from DED. This development strengthens OKYO Pharma's intellectual property portfolio in the competitive landscape of DED treatments.
DED is a common condition affecting millions worldwide, characterized by insufficient lubrication and moisture on the eye's surface. The condition can lead to discomfort, inflammation, and even vision impairment. OK-101's patented method addresses these symptoms, potentially offering relief to those affected by DED.
The grant of this patent is a strategic milestone for OKYO Pharma, as it secures exclusive rights to the use of OK-101 in treating DED symptoms in the United States, a key market for the pharmaceutical industry. This could enhance the Company's ability to attract partnerships or investments for further development and commercialization of OK-101.
The announcement of the new patent was made today, and the information was furnished as Exhibit 99.1 to the Company's Report on Form 6-K. The details provided in the report are not to be considered "filed" for regulatory purposes, nor are they to be deemed incorporated by reference in any future filings under the Securities Act of 1933 or the Securities Exchange Act of 1934, unless expressly stated otherwise.
OKYO Pharma, with its headquarters in London, operates under the regulatory framework for foreign private issuers and submits annual reports using Form 20-F. The Company's commitment to advancing treatments for ocular diseases is underscored by its continued efforts to expand and protect its intellectual property assets.
The information regarding the patent grant is based on a press release statement from OKYO Pharma Ltd.
In other recent news, OKYO Pharma has been making significant strides in its operations. The company's CEO, Dr. Gary S. Jacob, is scheduled to appear on Bloomberg TV, providing insights into the company's business strategy and ongoing projects.
Executive Chairman Gabriele Cerrone has increased his stake in the company, demonstrating confidence in OKYO Pharma's direction. Furthermore, OKYO Pharma secured a key European patent for its chemerin analogs used in treating eye diseases, strengthening its intellectual property portfolio.
The company is preparing to initiate a Phase 2 trial for its drug candidate, OK-101, aiming to treat Neuropathic Corneal Pain (NCP), a condition currently lacking an FDA-approved therapy. Analysts from H.C. Wainwright have maintained a Buy rating for OKYO Pharma, reflecting the potential of OK-101 to become the first FDA-approved therapy for NCP.
OKYO Pharma also announced its participation in the upcoming H.C. Wainwright 4th Annual Ophthalmology Virtual Conference, signifying its ongoing efforts to communicate with investors and industry professionals. These recent developments highlight OKYO Pharma's commitment to advancing its pipeline of therapeutics and addressing unmet medical needs in ophthalmology.
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