CAMBRIDGE, Mass., Nov. 29 /PRNewswire/ -- Cambridge NeuroScience, Inc. (OTC Bulletin Board: CNSI) today announced that the Company has received Notification of Allowance from the U.S. Patent and Trademark Office for two patent applications covering the use of Glial Growth Factor 2 (GGF2) and related proteins in the prevention and treatment of disorders of the nervous system. Cambridge NeuroScience and Bayer AG are jointly developing GGF2 as a treatment for multiple sclerosis and peripheral neuropathies.
"Cambridge NeuroScience has an extremely strong proprietary position in the use GGF2 for the treatment of MS and other neurological disorders," said Harry Wilcox, President and C.E.O. of Cambridge NeuroScience. "With 14 patents related to this growth factor and 54 pending, our aggressive patent strategy related to GGF2 continues to build value for our ongoing program with Bayer AG and our shareholders."
GGF2, a member of the neuregulin family of growth factors, is known to stimulate the growth and differentiation of glial cells, the support cells of the nervous system. These glial cells form the myelin sheath that insulates nerve cells and is essential for their survival and proper functioning. In demyelinating diseases such as multiple sclerosis, the myelin sheath is damaged or lost, leading to the degeneration of nerve cells. Preclinical studies have demonstrated that GGF2 can stimulate the cell growth necessary to protect and regenerate damaged myelin sheath. In December 1998, CNSI announced an agreement with Bayer AG worth up to $26 million plus royalties to develop GGF2 for the treatment of neurodegenerative diseases, such as MS.
Cambridge NeuroScience, Inc. is a neuroscience company engaged in the discovery and development of proprietary pharmaceuticals focusing on nerve cell survival and function. The Company is developing products to treat stroke and chronic neurodegenerative disorders such as multiple sclerosis, peripheral neuropathies and other degenerative diseases.
This press release may contain forward-looking statements based on the current expectations of management. There are certain important factors that could cause results to differ from those anticipated by the statements made above, including, but not limited to, our ability to protect our inventions and intellectual property rights through the receipt of patents or otherwise, the Company's ability to establish and maintain collaborative arrangements with third parties for its product candidates and programs, the results of future clinical trials, and the acceptance by regulatory authorities of the Company's clinical trial outcomes as a basis for marketing approval.