STOCK TITAN

Ocean Biomedical, Inc. (NASDAQ: OCEA) Announces Patent Allowance for Malaria Antibodies That Have Potential Capability to Protect Against Infection and Treat Severe Disease

Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

On May 16, 2024, Ocean Biomedical (NASDAQ: OCEA) announced a new patent for malaria therapeutic antibody discoveries by Dr. Jonathan Kurtis. These antibodies aim to prevent malaria infection and treat severe cases by inducing parasite death via apoptosis during a critical stage of the malaria cycle. This patent adds to Ocean Biomedical's global portfolio, particularly important as malaria strains show resistance to current Artemisinin-based treatments. Ocean is optimizing vaccine and therapeutic antibody formulations before IND submission and clinical trials. Malaria remains a leading cause of death, particularly among children, with 627,000 fatalities in 2022. The new patent strengthens Ocean Biomedical's efforts to address this unmet medical need, leveraging partnerships with top research institutions.

Positive
  • New patent granted for malaria therapeutic antibodies.
  • Antibodies can both prevent infection and treat severe malaria.
  • Patent expands Ocean Biomedical's global intellectual property portfolio.
  • Focus on blood-stage malaria, responsible for clinical disease and death.
  • Potential for greater efficacy compared to current vaccines and treatments.
  • Ongoing optimization of vaccine and therapeutic formulations.
  • Strong partnerships with premier research institutions.
Negative
  • Malaria strains showing resistance to Artemisinin-based treatments.
  • High global mortality rate, with 627,000 deaths in 2022.
  • Current status is pre-IND submission; clinical trials have not yet begun.

The recent patent allowance for Ocean Biomedical’s malaria therapeutic antibodies presents a notable advance in the field of infectious diseases. Malaria remains a significant global health challenge, killing an estimated 627,000 individuals in 2022 alone. Current treatment largely relies on Artemisinin-based drugs, but resistance to these drugs is rising, which makes the development of new therapeutics highly essential.

Dr. Kurtis’s approach aims at the blood-stage of the malaria lifecycle, which is responsible for all clinical symptoms and mortality. By targeting this stage, the therapy has the potential to interrupt the parasite development more effectively compared to existing treatments. Additionally, the induced apoptosis mechanism provides a novel mode of action.

From a research perspective, the move to optimize the formulation for IND (Investigational New Drug) submission and first-in-human trials marks a critical step in translational medicine. This patent not only strengthens Ocean Biomedical's intellectual property portfolio but also positions it at the forefront of an urgent unmet medical need.

For investors, this patent signifies a strategic advancement that could lead to lucrative clinical milestones and potentially transformative treatments in infectious disease management.

Ocean Biomedical’s new patent for malaria antibodies is significant from a financial perspective. The company is taking a important step in addressing an urgent global health issue, which could translate into substantial market opportunities. Malaria treatments are a multi-billion-dollar market and with the rise of drug-resistant malaria strains, there is a pressing need for innovative solutions.

The patent adds considerable value to Ocean Biomedical's intellectual property portfolio, which is a key asset for biotech companies. This patent could attract partnerships, licensing deals, or even acquisition interest from larger pharmaceutical players looking to bolster their infectious disease pipelines.

In the short term, the announcement might not significantly impact the stock price due to the lengthy process of drug development. However, in the long term, successful clinical trials and eventual market approval could lead to significant revenue streams and enhanced shareholder value.

The patent granted to Ocean Biomedical could reshape the competitive landscape in malaria treatment. Resistance to Artemisinin-based therapies is a growing concern and new treatments targeting the blood-stage of the malaria lifecycle are urgently needed. This patent places Ocean Biomedical in a potentially advantageous position within the global malaria treatment market.

By focusing on the blood-stage, where clinical symptoms manifest, Ocean Biomedical’s therapeutic antibodies could offer a higher efficacy compared to existing treatments. This might not only fulfill a important healthcare need but also capture a significant market share in regions heavily burdened by malaria, particularly in sub-Saharan Africa and Southeast Asia.

Investors should keep an eye on the progress towards clinical trials and regulatory milestones, as these will be critical indicators of the potential commercial success. The global effort to combat malaria provides a substantial market opportunity and firms that can deliver effective solutions stand to gain considerable competitive advantages.

Providence, RI, May 16, 2024 (GLOBE NEWSWIRE) -- Ocean Biomedical (NASDAQ:OCEA) announced today that Scientific Co-founder Dr. Jonathan Kurtis, MD, PhD, has been granted a new patent for his malaria therapeutic antibody discoveries, targeted to both prevent malaria infection and treat severe malaria. Kurtis’ novel approach can cause parasite death at a key stage in the malarial cycle, triggering programmed cell death through apoptosis. This expands patent protection for Dr. Kurtis’ novel discoveries at a time when the most common strains of malaria are showing signs of growing resistance to current Artemisinin-based drugs.

This patent is adding to Ocean Biomedical’s global patent portfolio for discoveries with potential to impact major unmet medical needs in infectious disease, oncology, and fibrosis.


Dr. Jonathan Kurtis conducting research near Kisumu, Kenya, one of the world’s most malaria-infected regions

Ocean’s breakthrough approach to malaria prevention and treatment targets the blood-stage portion of the malaria lifecycle – the stage responsible for all clinical disease and death – and therefore has the potential of significantly greater efficacy compared with vaccines and therapeutics targeting other stages. Ocean is working to optimize the formulation of its vaccine and therapeutic antibody prior to IND submission and first-in-humans testing.

Addressing a Global Unmet Need

Malaria is the greatest single-agent killer of children on the planet, killing approximately 627,000 individuals in 2022. Artemisinin-based drug therapy remains the mainstay of treatment, but the spread of parasites resistant to this family of compounds threatens recent progress achieved by antimalarial campaigns and underscores the urgent need to identify new anti-malarial drugs.

Leadership Comments

“At each step in the process we are learning more about how this “kill switch” mechanism works to interrupt the malaria parasite’s lifecycle, and how we can exploit that on the prevention side and the treatment side,” commented Dr. Jake Kurtis, Scientific Co-founder of Ocean Biomedical, member of Ocean Biomedical’s board of directors and Chair of Pathology and Laboratory Medicine at the Warren Alpert Medical School at Brown University.

“The progress we have been able to make thus far in advancing novel targets is a testament to Ocean Biomedical’s innovative model and deep partnership with premier research institutions. We are hopeful that Dr. Kurtis’ discoveries will lead to powerful new prevention and treatment options that can save tens of thousands of lives, and we are proud to be leading in this important work,” said Elizabeth Ng, Chief Executive Officer of Ocean Biomedical.

“The resurgence of Falciparum malaria worldwide is increasingly alarming and we are pleased to see Dr. Kurtis’ work receive this patent coverage for such an important discovery. We will work hard to accelerate the development of our novel vaccine candidate and this novel class of antimalarial antibodies with the goal to get a new treatment option for severe malaria available as soon as possible,” said Dr. Chirinjeev Kathuria, Co-founder and Executive Chairman.

About Ocean Biomedical

Ocean Biomedical, Inc. is a Providence, Rhode Island-based biopharma company with an innovative business model that accelerates the development and commercialization of scientifically compelling assets from research universities and medical centers. Ocean Biomedical intends to deploy the funding and expertise to move new therapeutic candidates efficiently from the laboratory to the clinic, to the world. Ocean Biomedical is currently seeking to develop five promising discoveries that have the potential to achieve life-changing outcomes in lung cancer, brain cancer, pulmonary fibrosis, and the prevention and treatment of malaria. The Ocean Biomedical team is working on solving some of the world’s toughest problems, for the people who need it most.

To learn more, visit www.oceanbiomedical.com

Forward-Looking Statements

The information included herein and in any oral statements made in connection herewith include “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of financial and performance metrics and expectations. These statements are based on various assumptions, whether or not identified herein, and on the current expectations of the Company’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions.

The announced discoveries were based solely on laboratory and animal studies. Ocean Biomedical has not conducted any studies that show similar efficacy or safety in humans. There can be no assurances that this treatment will prove safe or effective in humans, and that any clinical benefits of this treatment is subject to clinical trials and ultimate approval of its use in patients by the FDA. Such approval, if granted, could be years away.

Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the control of the Company that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include (i) the outcome of any legal proceedings that may be instituted against the Company; (ii) changes in the markets in which the Company competes, including with respect to its competitive landscape, technology evolution, or regulatory changes; (iii) changes in domestic and global general economic conditions; (iv) risk that the Company may not be able to execute its growth strategies; (v) risks related to the ongoing global crises, including supply chain disruptions; (vi) risk that the Company may not be able to develop and maintain effective internal controls; (vii) the risk that the Company may fail to keep pace with rapid technological developments to provide new and innovative products and services or make substantial investments in unsuccessful new products and services; (viii) the ability to develop, license or acquire new therapeutics; (ix) the risk that the Company will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; (x) the risk that the Company experiences difficulties in managing its growth and expanding operations; (xi) the risk of product liability or regulatory lawsuits or proceedings relating to the Company’s business; (xii) the risk of cyber security or foreign exchange losses; (xiii) the risk that the Company is unable to secure or protect its intellectual property.

The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties that are described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2023 and other documents to be filed by the Company from time to time with the SEC and which are and will be available at www.sec.gov. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this filing. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Ocean Biomedical Investor Relations info@oceanbiomedical.com

Ocean Biomedical Media Relations connect@oceanbiomedical.com

Attachment


FAQ

What is the significance of Ocean Biomedical's new patent for malaria antibodies?

The patent covers therapeutic antibodies that can prevent malaria infection and treat severe cases by inducing parasite death through apoptosis.

Why is Ocean Biomedical's new malaria treatment important?

The antibodies target the blood-stage of malaria, which is responsible for clinical disease and death, offering potential greater efficacy than current treatments.

What impact does this new patent have on Ocean Biomedical's portfolio?

The patent adds to Ocean Biomedical's global intellectual property portfolio, strengthening its position in addressing unmet medical needs in infectious diseases.

How does the new patent relate to current malaria treatments?

The antibodies offer an alternative to Artemisinin-based treatments, which are facing growing resistance, providing a new avenue for malaria prevention and treatment.

Ocean Biomedical, Inc.

NASDAQ:OCEA

OCEA Rankings

OCEA Latest News

OCEA Stock Data

38.11M
34.65M
71.99%
13.27%
1.89%
Research and Development in Biotechnology
Professional, Scientific, and Technical Services
Link
United States of America
NEW YORK