ProtoKinetix Announces Acquisition of Patents Ticker Symbol: U:PKTX
ST. MARYS, W. Va. -- (Business Wire) --
ProtoKinetix, Incorporated (OTC: PKTX) (www.protokinetix.com) (ProtoKinetix or the Company) is pleased to announce that it has completed the acquisition of certain patents and all rights associated therewith (the Patents) from Institut National des Sciences Appliquées de Rouen (INSA) pursuant to an Assignment of Patents and Patent Application (the Patent Assignment) entered into on or about January 5, 2015.
ProtoKinetix made payment of 25,000 Euros to INSA for all of the Patents and rights associated therewith, for the Gem difluorinated C-glycopeptides, their preparation and their use for the preservation of biological materials and/or in cryosurgery family of patents, which includes issued patents in Canada (Patent No. CA2,558,801), England, France, and Germany (Patent No. EP1,817,329) and the United-States (Patent No. US8,394,362). These Patents secure, amongst other things, key intellectual property rights to the Companys AAGP lead compound.
By securing these Patents, the Company is in a better position to move forward with its operations. We are pleased to secure the rights to these Patents as we can now license the rights to other companies to develop different applications of the AAGP lead compound, said Clarence E. Smith, President and Chief Executive Officer.
ProtoKinetix, Inc. is a molecular biotechnology company that has developed and patented a family of hyper stable, potent glycopeptides (AAGP) that dramatically enhance therapeutic results and reduce the cost of stem cell medicine. Due to the anti-inflammatory effect of AAGP molecules, the Company is currently targeting the direct treatment of diseases that have a major inflammatory component.
Cautionary Statement Regarding Forward-Looking Information
Except for statements of historical fact, this news release contains certain forward-looking information within the meaning of applicable securities law, including statements regarding the Company's intention to license the Patent rights to third parties and the potential treatments for which the Company's AAGPTM may be applied. Forward-looking information is frequently characterized by words such as plan, expect, project, intend, believe, anticipate, estimate and other similar words, or statements that certain events or conditions may or will occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements.The Company undertakes no obligation to update forward-looking information if circumstances or managements estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements.More detailed information about potential factors that could affect financial results is included in the documents filed by the Company from time to time with the United States Securities Commission and with securities regulatory authorities in Canadian on SEDAR.
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. Some information included in this press release contains statements that are forward-looking. Such forward-looking information involves significant risks and uncertainties that could affect anticipated results in the future and, accordingly, these results may differ materially from those expressed in any forward-looking statements made by or on behalf of the Company. For a description of additional risks and uncertainties, please refer to the Companys filings with the Securities and Exchange Commission.
Clarence E. Smith President and CEO
ProtoKinetix, Inc. Clarence E. Smith, President & Chief Executive Officer 304-299-5070 email@example.com