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Transcept wins notice of allowance for sleep disorder drug

Written by: David Castillo on November 6th, 2009

Transcept wins notice of allowance for sleep disorder drug | read this item

[Trading Markets] — Transcept Pharmaceuticals, a specialty pharmaceutical company, has received a notice of allowance from the US Patent and Trademark Office for claims under US patent application, which covers the use of Intermezzo, the company’s lead product candidate. Once issued, this patent will expire in February 2025.

Under the terms of the exclusive licensing and collaboration agreement between Transcept and Purdue Pharmaceutical Products
to commercialize Intermezzo in the US, Transcept is eligible to receive a $10 million milestone payment from Purdue after the listing of the issued patent subject to the notice of allowance in the FDA’s Approved Drug Products with Therapeutic Equivalence Evaluations, or Orange Book.

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The obligation of Purdue to make this milestone payment is subject to an FDA approval of Intermezzo and Purdue electing to continue with the alliance after its review of the terms of such FDA approval, if such approval is received.

Nikhilesh Singh, co-founder and chief scientific officer of Transcept, said: “Once issued, this patent is expected to provide an important layer of intellectual property protection covering our proprietary low-dose sublingual Intermezzo formulation. This patent allowance is a testament to the scientific talent of its inventor.”