Noxopharm has learnt a lot about the mechanism of action of Veyonda since the first group of patent applications was lodged. For instance, it has become clear that Veyonda works as an immuno-oncology drug; turning inactive immune cells into active immune cells. These cells can be found throughout a cancerous body, but substantially less so in the brain.
The patent application Targeted Drug Delivery concerns the use of Veyonda to treat brain cancer. I understand that Noxopharm has decided to let this application lapse because there was little point is spending over $100,000 to fight for a patent that was unlikely to have any clinical use. The recent discovery of the role of glutamate in brain cancer suggests that Noxopharm may have better ways to attack that cancer.
I am led to understand that Noxopharm will continue to vigorously pursue patent grant for all other applications, with a high degree of confidence that key claims will be approved.
Nothing to be worried about. Sorry to disappoint you.
NOX Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
