- Provides chitosan-based biopolymer scaffold with patent protection on its own or combined with other therapeutic agents up to 2035
- Significantly increases Company's attractiveness as a regenerative medicine scaffold provider
- Leverages opportunities for fast-tracking regulatory programs with potential 510(k) pre-market submissions in the US and commercial readiness
MONTREAL, Sept. 28, 2023 /CNW/ - ChitogenX Inc., (CSE: CHGX) (OTCQB: CHNXF) ("ChitogenX" or the "Company"), a clinical-stage regenerative medicine company, today announced that it has received a notice of allowance for a key patent in the US and Canada. The patent confers protection for usage of the chitosan-based biopolymer as a stand-alone scaffold, or in combination with other therapeutic agents such as biologics.
"The receipt of this notice of allowance for a patent in the key US and Canadian jurisdictions makes our proprietary chitosan-based biopolymer scaffold significantly more valuable to potential partners and recognizes its unique characteristics for much broader regenerative medicine applications when compared to our existing PRP-Chitosan proprietary platform", said Philippe Deschamps, company CEO. "We are currently evaluating opportunities for fast-track regulatory programs with potential 510(k) pre-market submissions in the US and commercial readiness in other jurisdictions. We expect to announce our plans to take full advantage of the broad clinical and commercial opportunities now available to us in the coming months".
About ChitogenX Inc.
ChitogenX Inc. is a clinical stage regenerative medicine company dedicated to the development of novel therapeutic tissue repair technologies to improve tissue healing. The Company is committed to the clinical development of its proprietary ORTHO-R technology platform, a muco-adhesive CHITOSAN based biopolymer matrix, specifically designed to deliver biologics such as platelet-rich plasma (PRP) or bone marrow aspirate concentrate (BMAC), to enhance healing in various Regenerative Medicine Applications.
Other formulations are being developed to leverage the technology's performance characteristics such as tissue adhesion, pliability, and ability to deliver biologics or therapeutics to various tissues damaged by trauma or disease. Further information about ChitogenX is available on the Company's website at www.chitogenx.com and on SEDAR at www.sedar.com.
Forward-Looking Statements
This news release may contain certain forward-looking statements regarding the Company's expectations for future events. Such expectations are based on certain assumptions that are founded on currently available information. If these assumptions prove incorrect, actual results may differ materially from those contemplated by the forward-looking statements contained in this press release. Factors that could cause actual results to differ include, amongst others, uncertainty as to the final result and other risks. The Company disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by security laws.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE Ortho Regenerative Technologies Inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2023/28/c5634.html