12 September 2002 Part 1/1 -------- PEPTECH LIMITED ---------------
HOMEX - Sydney ------------------------- Peptech US Anti-TNF Patent to be Issued
Peptech today announced that it has received official confirmation from the US Patent and Trademark Office that patent application number 9/736,792 will be issued on 17 September 2002 under patent number 6,451,983 entitled "Tumour Necrosis Factor Antibodies".
Peptech is already receiving royalties from sales of REMICADE (R) in Australia, Canada, France, Germany, Italy, Switzerland and the United Kingdom. The next significant milestone for Peptech is the receipt of th royalties from sales of this anti TNF antibody product in the US. "Upon review of our patent portfolio, we are extremely confident that as a result of the issuance of the aforementioned patent, we can now commence receiving royalties on the sales of REMICADE (R) in the US, which is by far its largest market. Accordingly, our royalty income stream will be substantially enhanced although this will not affect the anticipated loss for our current financial year ending 30 September 2002. Barring unforeseen circumstances, the financial results commencing from the next financial year will be profitable ones," said Peptech Managing Director, Stephen Kwik.
Mr Kwik added about today's announcement, "This is a very significant developmet for the Company. It will enable Peptech to make concrete plans to grow our earnings by expanding our product pipeline, developing the lead products from the collaborative work with Domantis and those from our own internal research work undertaken in Sydney".
PTD Price at posting:
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