Biotechnology company specializing on developing and delivering technology enabled psychedelic therapies Field Trip Health Ltd. (NASDAQ: FTRP) (TSX: FTRP) has been granted a patent for claims linked to FT-104, the company’s first novel psychedelic molecule in development by the United States Patent and Trademark Office (USPTO).
The FT-104 is also informally known as ‘Isoprocin Glutarate’. The patent application is titled ‘Tryptamine Prodrugs’ and the claims captured grants exclusive rights to Field Trip Health for the composition of matter, use and manufacturing of a family of hydroxytryptamines comprising FT-104.
This patent will provide protection until 2040, additionally, the company also filed an international patent application relating to FT-104 under the Patent Cooperation Treaty (PCT). The PCT filing is a move towards expansion into National Phase filings aimed at protecting the FT-104 in major markets where the company seeks to pursue commercialization in case of regulatory approval.
“The US patent grant strengthens IP protection for our lead drug candidate FT-104 for the global pharmaceutical market. This grant builds upon the corresponding patent application filed under the PCT. We are continuing to strengthen patent protections for FT-104 and its uses across the globe, as we advance our Phase 1 clinical trial and continue to develop other molecules in our pipeline,” said the company’s CEO, Joseph del Moral.
The company has been using an approach leveraging on science and psychotherapy protocol to come up with promising treatment approaches to be used in research and clinical applications.