EQiTX granted US patent
Wednesday, 09 July, 2003
WA biotech EQiTX has been granted a US patent on its Gingerol pain and inflammation compound.
“This is a significant milestone for our company,” said Sol Majteles, EQiTX chairman. “Being granted a US patent consolidates our commercial position in the world’s biggest market,” he added.
Gingerol, a novel vanilloid receptor blocking compound, was researched at the University of Sydney. The University still holds equity in the new subsidiary – ZingoTX -- set up to commercialise the drug.
Initial research has also indicated that Gingerol can inhibit certain enzymes associated with inflammation, which makes the potential market even greater. Plus the fact that ginger-derived compounds are much less dangerous than aspirin in the digestive tract.
“This is the first patent we have been granted, and it’s generally recognised that getting approved in the US isn’t easy,” noted EQiTX’s CEO, Noel Chambers.
“To us, this shows the idea really has legs now. When we have completely milestone one -- expected in November – we can go on to animal predictive trials. Once that has been done, we will be ready to talk to pharma about the product,” he said.
Market size estimates for the pain and inflammation market are around US$16 billion, offering what Chambers described as a “very big opportunity” for the company.
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