Conduit Pharma Gains Additional Patent for Autoimmune Drug

Conduit Pharmaceuticals Inc., a biopharmaceutical company listed on the Nasdaq under the ticker CDT, announced a significant development in its intellectual property strategy. The Japan Patent Office has granted a composition of matter patent for the company's lead asset, AZD1656. This asset is a Glucokinase Activator aimed at treating a variety of autoimmune disorders. This patent approval in Japan comes shortly after a similar approval in Australia, indicating the company's ongoing efforts to protect its intellectual property for future out-licensing opportunities.

Dr. David Tapolczay, the Chief Executive Officer of Conduit Pharmaceuticals, emphasized the importance of this milestone. He highlighted that obtaining the patent in Japan, one of the largest pharmaceutical markets globally, showcases the robustness of the company's scientific and intellectual property strategies. Dr. Tapolczay expressed optimism about securing additional patents in other major markets, which would enhance the company's global patent portfolio and strengthen its out-licensing potential.

Conduit Pharmaceuticals has a distinctive business model focused on bringing innovative medicines to patients. The company addresses unmet medical needs by enhancing and extending the intellectual property of its existing assets through advanced solid-form technology. These improved products are then commercialized in collaboration with life science companies.

The company holds an exclusive license with AstraZeneca for the rights to AZD1656 and AZD5658, both Glucokinase Activators, as well as AZD5904, a myeloperoxidase inhibitor. Additionally, Conduit has two more cocrystal assets, including CDT1656, which combines AZD1656 with a known compound, further diversifying its portfolio. The company's primary targets are Lupus and ANCA Vasculitis.

Conduit Pharmaceuticals is managed by an experienced team of pharmaceutical executives. Dr. David Tapolczay, formerly the Chief Executive Officer of the UK-based medical research charity LifeArc, leads the company. The Board of Directors is chaired by Dr. Freda Lewis-Hall, the former Chief Medical Officer of Pfizer, Inc.

This recent patent approval in Japan is a testament to Conduit Pharmaceuticals' commitment to maximizing the value of its intellectual property portfolio. The company looks forward to achieving additional patent approvals in other key markets, which will further solidify its intellectual property coverage and enhance its out-licensing opportunities.