LONDON (Alliance News) - AIM-listed Oxford Pharmascience Group PLC said Wednesday that it is strengthening its intellectual property rights over its technology platform, ahead of clinical studies on improvements to its drug assets.
Oxford Pharmascience said it is continuing commercialisation discussions over its lead assets, OXPzero Ibuprofen and OXPzero Naprozen, and it has filed for a new UK patent over technical modifications to its OXPzero technology platform.
The company said it will now progress to conduct UK-based Phase 1 exploratory pharmacokinetic clinical studies to validate the performance of its technology improvements, beginning with OXPzero Ibuprofen. Dosing is expected to start early in 2017.
Oxford Pharmascience said it remains well-funded, with GBP22.6 million in cash balances at October 31.
"In parallel to the ongoing commercial partnering activities, we are pleased to see OXPzero Ibuprofen going back into the clinic and our OXPzero NSAIDs IP protection being strengthened. We look forward to receiving advice from the FDA on our over-the-counter and prescription OXPzeroTM Ibuprofen product development strategies," said Marcelo Bravo, chief executive officer.
Shares in Oxford Pharmascience were up 1.0% at 2.02 pence Wednesday.
By Adam Clark; adamclark@alliancenews.com
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