Ocean Biomedical to win patent coverage for fibrosis therapy in Europe

• Ocean Biomedical (NASDAQ:OCEA) announced Friday that the European Patent Office intends to grant a patent for a treatment approach developed by the company to treat fibrotic diseases, including Idiopathic Pulmonary Fibrosis (IPF).
• The patent rights cover the methods and compositions related to the treatment of fibrosis using Ocean’s (OCEA) anti-Chitinase 1 small molecule candidate.
• It is a new application discovered by Dr. Jack A. Elias, Ocean’s (OCEA) Scientific Co-Founder and former Chair of Yale’s Department of Internal Medicine, for the candidate, also known as Small Molecule X.
• Ocean’s (OCEA) approach, designed to inhibit the mechanisms of fibrosis, has led to an 85%–90% reduction in collagen accumulation in pre-clinical studies.
• According to the patent, in addition to IPF, the approach has potential applications in multiple fibrotic indications, extending from rheumatoid arthritis to nonalcoholic steatohepatitis (NASH).

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