Business
Canopus BioPharma Inc (CBIA) Announces Sale of Two Patents in Sealed-Bid Auction
Canopus BioPharma Inc (CBIA) Announces Sale of Two Patents in Sealed-Bid Auction.
About this update from Canopus Biopharma, Inc.
[{"type":"text","content":"Canopus BioPharma wishes to announce that two \npatents have been sold in a sealed-bid auction as of March 27, 2014. \nThis sale effectively reduces the lien debt of Cascade Estates, Ltd., \nthe principal creditor of Canopus BioPharma. New York, NY (PRWEB) April 28, 2014 \nThe sale of these two Canopus BioPharma patents by Los Angeles-based \npatent brokerage firm ICAP resulted in the reduction of the lien debt to\n Cascade Estates, Ltd. On April 25th, Cascade Estates, Ltd. stated they \nhad been able to reduce Canopus BioPharma's debts by $2.9 million USD, \nor about 50%, by securing the sale of patents for therapeutic \ncompositions containing Cirsiliol for treating viral infections, as well\n as a medicament for treatment of mucositis & weight loss. The \nmedical implications of these patents are focused on providing more \neffective treatments for mucositis and more advanced compositions for \nanti-viral therapies. Millions suffer from these diseases every month; \nmost treatments have side effects ranging from mild to serious. Canopus\n BioPharma seeks to develop more effective treatments for these and \nother diseases.\nCanopus BioPharma http://www.canopusbiopharma.com/\n also holds two patents with completed animal studies which it expects \nto commercialize in the coming months. A patent for Oltipraz stents \nthat has preformed with equivalent efficacy to the current marketed \nPaclitaxel coated drug-eluting stent, as well as a Thalidomide-based \nstimulator for stem cell factor in patients. These actions are expected\n to facilitate a company-wide restructuring and further reduce the \ncreditor burden under which the company has been laboring.\nIn May 2014, Canopus BioPharma expects to announce the results it has\n gathered from a compassionate clinical study carried out in China \nconcerning its Mogroside IV-Ribavirin combinations on 28 Hepatitis C \npatients. In addition to this, Canopus BioPharma has a large complement\n of technologies currently in development. \nAbout Us:\nCanopus BioPharma http://www.canopusbiopharma.com/\n strives to stay at the forefront of discoveries, commercial \nbreakthroughs and developments in the rapidly changing arena of the \npharmaceutical industry. They have crafted a unique, dynamic team with a\n focus on the commercialization of its leading products, which are \ntreatments for H...