Rhythm Biosciences scores biomarker patents in Europe
Rhythm Biosciences (ASX:RHY) has today announced that coverage of its granted European patent (EP2829881) has been confirmed in 13 jurisdictions: Austria, Belgium, Denmark, Finland, France, Germany, Luxembourg, Netherlands, Norway, Sweden, Switzerland & Liechtenstein and the United Kingdom.
These countries can now be added to the list of Australia, China and Japan, who have already granted patents to RHY for its biomarker IP towards the diagnosis of colorectal cancer. The company also has patent applications pending in the US, Brazil and India.
The European patent claims cover RHY’s bio-technology geared at the diagnosis or detection of colorectal cancer via the assessment of the presence/ levels/ combinations of up to 31 biomarkers. In addition, the patents also relate to diagnostic kits comprising reagents used to undertake these assessments to ultimately assist in the accurate diagnosis of colorectal cancer. These patents won’t expire until July 14, 2031.
RHY’s Managing Director Dr Trevor Lockett commented on the news: “In balancing coverage against costs, Rhythm elected to file this pivotal patent family in countries with both significant populations and health care systems that are supportive of cancer preventive strategies.
RHY’s Chairman Shane Tanner added: “This is an important milestone for the company. With patent rights secured, Rhythm will now begin developing its commercialisation strategy for ColoSTAT in the UK and on the continent.”
To complete the company’s two-year research and development program, which remains the focus of its first round of funding, RHY will lodge applications for the European authorities for a CE mark for ColoSTAT. At the same time, in Australia it will look to apply to the TGA for listing of ColoSTAT on the Australian Register of Therapeutic Goods.
Once those stages of the R&D phase are finalised, RHY will then be able to sell its product in Europe, the UK and Australia through its intended region-specific plans for commercialisation.
As always, it should be noted that RHY is an early stage play and anything can happen, so seek professional financial advice if considering this stock for your portfolio.