RedHill Biopharma received a notice of allowance from the US Patent and Trademark Office on Monday for a new formulation patent covering RHB-106. It will be valid until 2033.
On Monday (August 20), RedHill Biopharma (NASDAQ:RDHL) received a notice of allowance from the US Patent and Trademark Office for a new formulation patent covering RHB-106. It will be valid until 2033.
The company has additional patent applications for RHB-106 waiting for approval in other countries.
The drug’s worldwide rights are licensed to Salix Pharmaceuticals, a subsidiary of Bausch Health Companies (TSX:BHC,NYSE:BHC).
As announced in Redhill’s semiannual business update in April, the company amended a 2014 agreement over the drug in April of this year with Salix, resulting in an increase in the lower end of the range of royalty payments.
When necessary, Redhill will continue to assist Salix in developing RHB-106.
RHB-106 is an encapsulated bowel cleanser intended for use on the gastrointestinal tract before abdominal procedures, diagnostic tests and surgical interventions. Some examples include colonoscopies, barium enemas or virtual colonoscopies, as well as laparotomies.
The drug is a tasteless solid oral solution, and may allow an unobstructed procedure with reduced side effects and improved patient compliance.
Aside from RHB-106, Redhill’s focus is on commercializing and promoting gastrointestinal products in the US, with four US Food and Drug Administration-approved drugs on the market.
RedHill has seven other products in development in addition to RHB-106, which is out-licensed. Its other products in development are in clinical trials for indications such as inflammatory and gastrointestinal disorders, Crohn’s disease and non-tuberculous mycobacteria infections, among others.
Four out of the seven drug candidates in development are in Phase 3 or have trials planned.
Over Monday’s trading period, RedHill’s share price increased 4.22 percent to US$6.42 as of market close.
TipRanks shows the company’s share price may reach to a high of US$36 in the next six months or a low of US$20, based on recent analyst ratings.
Investors interested in hearing more about RedHill’s news, including its drug candidates in Phase 3 development, can follow along on the company’s website.
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Securities Disclosure: I, Gabrielle Lakusta, hold no direct investment interest in any company mentioned in this article.