Canopus BioPharma Inc (CBIA) Announces Sale of Two Patents in Sealed-Bid Auction
New York, NY (PRWEB) April 28, 2014 -- The sale of these two Canopus BioPharma patents by Los Angeles-based patent brokerage firm ICAP resulted in the reduction of the lien debt to Cascade Estates, Ltd. On April 25th, Cascade Estates, Ltd. stated they had been able to reduce Canopus BioPharma's debts by $2.9 million USD, or about 50%, by securing the sale of patents for therapeutic compositions containing Cirsiliol for treating viral infections, as well as a medicament for treatment of mucositis & weight loss. The medical implications of these patents are focused on providing more effective treatments for mucositis and more advanced compositions for anti-viral therapies. Millions suffer from these diseases every month; most treatments have side effects ranging from mild to serious. Canopus BioPharma seeks to develop more effective treatments for these and other diseases.
Canopus BioPharma http://www.canopusbiopharma.com/ also holds two patents with completed animal studies which it expects to commercialize in the coming months. A patent for Oltipraz stents that has preformed with equivalent efficacy to the current marketed Paclitaxel coated drug-eluting stent, as well as a Thalidomide-based stimulator for stem cell factor in patients. These actions are expected to facilitate a company-wide restructuring and further reduce the creditor burden under which the company has been laboring.
In May 2014, Canopus BioPharma expects to announce the results it has gathered from a compassionate clinical study carried out in China concerning its Mogroside IV-Ribavirin combinations on 28 Hepatitis C patients. In addition to this, Canopus BioPharma has a large complement of technologies currently in development.
About Us:
Canopus BioPharma http://www.canopusbiopharma.com/ strives to stay at the forefront of discoveries, commercial breakthroughs and developments in the rapidly changing arena of the pharmaceutical industry. They have crafted a unique, dynamic team with a focus on the commercialization of its leading products, which are treatments for Hepatitis C, Restinosis and novel Anti-virals. This focus has enabled them to build a strong foundation for future endeavors. They are making strides in the field by exploring the uses and efficacy of Mogrosides, a new family of pharmaceutical molecules. Their current business plans and research and development are sharply focused on creating more effective treatments for its target diseases.
For more information contact:
Patrick T. Prendergast CEO
Email: patrick.prendergast(at)me(dot)com
http://www.canopusbiopharma.com/
Patrick Prendergast CEO, Canopus BioPharma Incorporated, http://www.canopusbiopharma.com/, +353 16278674, [email protected]
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