Phytomedics Inc. Announces Allowance of a U.S. Patent in Its Nutraceutical Portfolio
DAYTON, N.J., Aug. 14 /PRNewswire/ -- Phytomedics Inc. is very pleased to announce an allowance from the U.S. Patent and Trademark Office on a patent entitled "Phenethylisothiocyanate (PEITC) Nutraceutical Compositions and Methods". Over the past four years, Phytomedics Inc. has sponsored the research behind this invention at Rutgers, the State University of New Jersey, which is a current assignee of this patent. The patent is exclusively licensed to Phytomedics Inc.
"We are very pleased that the U.S. Patent Office has granted an allowance on this unique nutraceutical invention, which represents another example of how Phytomedics is bringing together the cutting edge tools of medicinal chemistry and plant biotechnology to create a new generation of proprietary plant-derived health products," said Dr. Bertold Fridlender, CEO of Phytomedics Inc.
Despite major advances in the field of medicine, cancer is still the second leading cause of death in the U.S., exceeded only by heart disease. In the U.S., 1 of 4 deaths is from cancer. With more and more Americans investigating complimentary approaches to their healthcare maintenance, cancer prevention becomes an important component of this trend.
PEITC is a potent chemopreventive agent that has been studied by laboratories around the globe, including the U.S. National Cancer Institute, for its ability to prevent cancer from occurring in high-risk individuals, such as lung cancer in smokers and ex-smokers. While it is a naturally occurring chemical found in a variety of cruciferous vegetables, such as watercress and cabbage, the compound is present in extremely small quantities in nature, requiring people to consume prohibitively large quantities of plant material to have any beneficial effect.
"The Phytomedics/Rutgers research team has developed this new invention to allow for the enhanced production of PEITC in fresh plant tissue. The resulting nutraceutical formulation produced with the proprietary technology is safe, efficacious, and, oriented towards patient compliance. Consequently, a dietary supplement formulation will be launched in the coming months in partnership with a major nutraceutical company," says Fridlender.
Phytomedics Inc. is a privately held biotechnology firm with headquarters located in Dayton, NJ. Phytomedics conducts its R&D under the leadership of Professor Ilya Raskin, Ph.D., at the Biotech Center at Rutgers University. Phytomedics' research staff is comprised of twenty scientists, mostly Ph.Ds, from nine countries working in state-of-the-art facilities. Phytomedics has a broad research and licensing agreement with Rutgers University that allows the company to exclusively license its core technologies and products.
Phytomedics has several products in various stages of development for both nutraceutical and pharmaceutical application, including products for viral, inflammatory and cardiovascular diseases, diabetes, erectile dysfunction and sleep improvement. Phytomedics' lead botanical drug for autoimmune disorders such as arthritis, psoriasis, and lupus is currently entering Phase II/III clinical development in the U.S. Currently, the Company's patent portfolio includes sixteen filed or issued patents protecting its key products and technologies.
About Phytomedics Inc.
Phytomedics Inc. uses a broad and innovative proprietary technology platform to discover, develop and manufacture novel, multi-component and multi-functional botanical therapeutics such as botanical drugs and nutraceuticals, as well as recombinant proteins. Through this proprietary technology platform, the Company has produced a pipeline of pharmaceutical and nutraceutical lead compounds, several of which are in clinical development. Founded by Professor Ilya Raskin, Ph.D., Phytomedics Inc. conducts most of its R&D at the Biotech Center of Rutgers University.
SOURCE: Phytomedics Inc.
65 Stults Road, Dayton, NJ 08810