Muparfostat (PI-88) is one of a new class of multi-targeted cytostatic cancer therapeutics. It is a novel anti-cancer compound with a mechanism as a heparan sulfate mimetic. Muparfostat ‘s anti-tumor activity is based on inhibition of two biological processes, angiogenesis and metastasis.
Progen Pharma said that the received patent number 0837683 is filed by the Australian National University. The term of the patent is 20 years from the date of application – April 1996, and will expire in April 2016.
Progen Pharma has an exclusive worldwide license to this technology and recently reported a non binding letter of intent to sublicense this to Medigen Biotech.
Sue MacLeman, CEO of Progen Pharma, said: “Europe is a major pharmaceutical market and the granting of this patent provides additional coverage in this important market.”