Initiator Pharma has moved closer to a European patent for IPDP2015, a product candidate for depression. On January 30, 2018, the company said the European Patent Office had issued an Intention to Grant notice for the application.
The notice means the EPO plans to approve the patent. Still, a few administrative steps remain before final approval can be issued.
Once granted, the patent will cover IPDP2015 as a substance. It will also protect its use in treating depression and a wide range of related neuropsychiatric disorders. Protection in Europe would last until 2029. The company’s matching patent in the United States was granted in 2014.
IPDP2015 is part of the company’s pipeline, and Initiator Pharma is looking for a partner to continue its preclinical development.
CEO Claus Olesen said the patent is an important part of the company’s effort to build value in its portfolio. He added that the company was pleased the examination was complete, because it marked a big step toward a patent in a large European market.
Initiator Pharma is a biotech company based in Aarhus, Denmark. Its shares trade on AktieTorget in Sweden under the ticker INIT, and it has about 3,400 shareholders. The company disclosed the news under the EU Market Abuse Regulation.
