Citius Provides Update on Its CITI Platforms and Gives Investors Further Insight on their Licensing Agreement with MD Anderson Cancer Center
NEW YORK, Feb. 06, 2019 (GLOBE NEWSWIRE) -- Citius Pharmaceuticals, Inc.’s (NASDAQ: CTXR) CEO, Myron Holubiak recently caught up with The Wall Street Analyzer to update investors on the companies’ recent progress.
Mr. Holubiak went over CTXR’s licensing agreement with MD Anderson Cancer Center on their Mino-Wrap platform to develop and commercialize a new method of reducing post-operative infections that are associated with surgical implants.
The Mino-Wrap product, which is also known as CITI-101, is a liquefying gel based wrap, which is used for reducing tissue expander infections following breast reconstructive surgeries. There are currently about 100,000 patients in the U.S. alone who are undergoing these procedures following mastectomies, and a tissue expander is used in close to 80% of these cases.
In addition, Mr. Holubiak believes Citius has a good patent position on their Mino-Lok platform. “We had another patent issued for us several months ago. So we’re good until 2036 with a new formulation patent that was issued. We do have a composition of matter patent that had been issued some time ago that took us past 2024, we now go up to 2036. But I do want to remind investors that we also have QIDP, the Qualified Infectious Disease Product part of the GAIN act, which adds market exclusivity at the time of NDA. So with all that in place, we know we have a very healthy intellectual property protection for that long period of time,” he clarified.
The company also has a topical hemorrhoid treatment, CITI-002, on which they expect to be conducting an animal toxicity study in March-April, and hope to get back into Phase II with FDA consent.
Citius last interviewed with WSA back in January 2018 when they were initiating their clinical trials, and Mr. Holubiak discussed milestones accomplished since his last conversation while outlining the companies’ goals for the upcoming year.
ABOUT CITIUS PHARMACEUTICALS:Citius Pharmaceuticals, Inc. (NASDAQ: CTXR) is a specialty pharmaceutical company dedicated to the development and commercialization of critical care products, with a focus on anti-infectives, cancer care and unique prescription products that use innovative, patented or proprietary formulations of previously-approved active pharmaceutical ingredients. We seek to achieve leading market positions by providing therapeutic products that address unmet medical needs; by using previously approved drugs with substantial safety and efficacy data, we seek to reduce the risks associated with pharmaceutical product development and regulatory requirements. Citius develops products that have intellectual property protection and competitive advantages to existing therapeutic approaches. For more information, please visit www.citiuspharma.com.
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FORWARD LOOKING STATEMENTSSafe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as Citius or its management “believes,” “expects,” “anticipates,” “foresees,” “forecasts,” “estimates” or other words or phrases of similar import. Similarly, such statements in this release that describe the company’s business strategy, outlook, objectives, plans, intentions, or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. These risks and uncertainties include, among other things, risks associated with patent and intellectual property matters; conducting our Phase 3 trial for Mino-Lok, including completing patient enrollment and opening study sites; the estimated markets for our product candidates and the acceptance thereof by any market; risks relating to the results of research and development activities; uncertainties relating to preclinical and clinical testing; the early stage of products under development; our need for substantial additional funds; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.
Citius Pharmaceuticals, Inc. Media Contact: Andrew Scott Vice President, Corporate Development (O) 908-967-6677 email@example.com The Wall Street Analyzer P: 347-529-5734 firstname.lastname@example.org