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Furiex Pharmaceuticals Announces Issuance of U.S. Patent for Dapoxetine Method of Treatment

^{Published on 2010-07-02 09:31:03 - Market Wire}
 

MORRISVILLE, N.C.--([ BUSINESS WIRE ])--Furiex Pharmaceuticals, Inc. (Nasdaq: FURX) announced today that the United States Patent and Trademark Office issued a patent on May 18, 2010, for the method for treatment of premature ejaculation using dapoxetine. Furiex developed dapoxetine in collaboration with Alza Corporation and its affiliates. U.S. Patent No. 7,718,705 includes claims directed to dosing dapoxetine on an as-needed basis, capturing the advantage dapoxetine has over other compounds in the same class, which require a pre-loading period for efficacy. The patent will expire in 2022. Furiex has received grants of similar patent claims in over 45 countries around the world including major and emerging markets.

"Issuance of the 7,718,705 patent extends patent protection for the treatment of premature ejaculation using dapoxetine for 12 years."

Alzaa™s affiliate, Janssen-Cilag, currently markets dapoxetine under the trademark, PRILIGY^TM, in a number of markets outside the United States. PRILIGY^TM has been launched in seven countries in the EU including Sweden, Austria, Finland, Germany, Spain, Italy and Portugal, as well as Mexico, South Korea and New Zealand.

aThe method claims of this patent are valuable because, unlike other SSRIs, dapoxetinea™s effects on premature ejaculation are evident with one dose, allowing dapoxetine to be dosed on an aas neededa™ basis,a said June Almenoff, M.D., Ph.D., president and chief medical officer of Furiex. "Issuance of the 7,718,705 patent extends patent protection for the treatment of premature ejaculation using dapoxetine for 12 years.a

About Furiex Pharmaceuticals

Furiex Pharmaceuticals is a drug development collaboration company using innovative clinical development design to accelerate and increase value of partnered drug programs by advancing them through the drug discovery and development process in a cost-efficient manner. Development programs are designed and driven by a core team with extensive drug development experience. The company collaborates with pharmaceutical and biotechnology companies and has a strong, diversified product portfolio and pipeline with multiple therapeutic candidates including late-stage assets and one product on the market. The companya™s mission is to develop innovative medicines faster and at less cost, reducing the expense of health care globally while providing life-improving therapies for patients. For more information, visit [ www.furiex.com ].

Except for historical information, all of the statements, expectations and assumptions contained in this news release, including expectations and assumptions about the validity and enforceability of U.S. Patent No. 7,718,705 or any other granted patent covering dapoxetine, and the acceptance of pending and future filings for marketing approval of dapoxetine, are forward-looking statements that involve a number of risks and uncertainties. Although Furiex attempts to be accurate in making these forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based. In addition, other important factors which could cause results to differ materially include the following: actions of the USPTO and judicial courts; changes in the law and potential challenges affecting the validity and enforceability of patents; risks associated with and dependence on collaborative relationships; risks associated with commercialization of drugs, including the ability to successfully obtain marketing approval; the risk that safety issues might arise in the post-approval market; and the other risk factors set forth from time to time in Furiexa™s SEC filings, including its registration statement on Form 10, copies of which are available free of charge upon request from the Furiexa™s investor relations department.

PRILIGY^TM is a trademark of Alza Corporationa™s affiliate, Janssen-Cilag.