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LONDON (Alliance News) - Pharmaceutical company N4 Pharma PLC announced on Wednesday it has filed a patent application for a treatment for premature ejaculation.
N4 Pharm's drug is an oral reformation of the antidepressant duloxetine, currently marketed as Cymbalta. The patent application is under the Patent Cooperation Treaty.
The UK-based company specialises in reformulating existing drugs and vaccines. It previously reformulated sildenaphil, the active drug in erectile dysfuntion medications, and said its new reformation of duloxetine was based on the same product principle.
Studies have shown duloxetine "has promise as a treatment for premature ejaculation", the company said. N4 Pharma will reformulate duloxetine with an intent to make the drug "faster acting and longer lasting". The company noted that 20% to 40% of men across all major markets report symptoms of premature ejaculation in their lifetime.
Once the patent is granted, it will allow the company's licencing partner to conduct clinical trials and obtain a licence.
"Our sildenafil clinical trial results will help to provide useful information to allow us to investigate possible formulation work on our duloxetine product. Continuing the patent process is a crucial step in helping us build a portfolio of generic reformulation opportunities," said Chief Executive Officer Nigel Theobald.
Due to the costs of a reverse takeover, N4 Pharma last month reported a pretax loss of GBP1.9 million for 2017, significantly widened from GBP190,940 for the nine months to the end of 2016.
N4 Pharma shares were up 6.3% at 20.35 pence Wednesday afternoon.