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ABVC BioPharma Receives Taiwanese Patent for Its Treatment of Major Depressive Disorder (MDD)
The Company Holds a US Patent for the Same Treatment FREMONT, CA, Oct. 09, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- ABVC BioPharma, Inc. (NASDAQ: ABVC)
About this update from Abvc Biopharma, Inc.
[{"type":"text","content":"The Company Holds a US Patent for the Same Treatment FREMONT, CA, Oct. 09, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- ABVC BioPharma, Inc. (NASDAQ: ABVC) (\"Company\"), a clinical-stage biopharmaceutical company developing therapeutic solutions in ophthalmology, neurology, and oncology/hematology, announced today that it received a Taiwanese patent, Application No. 109130285, for the use of PDC-1421, a Radix Polygala (Polygala tenuifolia Willd) extract, which is used in the Company’s asset ABV-1504 for the treatment of Major Depressive Disorder (MDD). The Company was previously awarded a U.S. patent, US 11,554,154 B2, on April 25, 2023, for the same treatment. \"These patents grant ABVC the right to exclude others from using, offering, or selling PDC-1421, throughout the United States and Taiwan until the year of 2040,\" said Dr. Uttam Patil, ABVC Chief Executive Officer. \"As our patent map steps into global coverage, we eagerly await the results of patent applications in the European Union, China, Japan, and more.\" The patent application was submitted to the Taiwan Patent and Trademark Office under the title \"Polygala Extract for the Treatment of Major Depressive Disorder.\" The invention relates to oral administration of the formulation containing a Radix Polygala (Polygala tenuifolia Willd) extract, PDC-1421, as a capsule for treating Major Depressive Disorder. Based on current studies, administering the composition should be done over the course of at least 25 days, with the daily dose varying once, twice, or three times per day; each dose ranges between 380-760 mg of the botanical extraction. ABV-1504, the Company’s asset indicated for use in MDD containing PDC-1421, is a botanical-based Norepinephrine Transporter (NET) inhibitor that has completed Phase II clinical studies, with plans to initiate an End of Phase II (EOP II) meeting with the FDA. We believe the Company's pipeline products have great market potential. As per the Future Market Insights report, the MDD market was valued at $11.51 billion in 2022 and is expected to reach $14.96 billion by 2032 with a CAGR of 2.8% over the forecast period.1 According to the Polaris market research report, the global ADHD treatment market was valued at $16.13 billion in 2022 and is expected to reach $32.14 billion by 2030 with a CAGR of 7.1% over the forecast period.2 About ...