Akelos Inc. Receives Chinese Patent For Its Lead Compound

Akelos Inc. Receives Chinese Patent For Its lead Compound
NEW YORK, NY, UNITED STATES, January 29, 2025 / EINPresswire.com / -- Akelos Inc. Announces China Patent Office Allowance of Patent Claiming its Lead Compound
Akelos Inc., a biotechnology company currently developing and commercializing a novel, non-opioid anti- hyperalgesic drug to treat chronic and neuropathic pain, announces that the China National Intellectual Property Administration (China's patent office) has allowed a patent application (No. 201980057151.1) with claims covering a number of compounds including its lead compound and its use to treat pain. The patent application covers inventions made at Weill Cornell Medicine by Peter Goldstein, MD, Professor of Anesthesiology, and his group. It is licensed exclusively to Akelos. This patent allowance is an important milestone for Akelos on its path towards commercialization of a new non-opioid painkiller that will alleviate suffering and help address the opioid epidemic. It follows the issuance of its US equivalent case, now US Patent No. 11,684,590 issued June 27, 2023, and the issuance of the Japanese equivalent. Patent applications are pending in the US, Europe, Canada, Australia and China, where further issuances are expected in the future.
'We are delighted to announce that the patent for our lead compound for the treatment of peripheral neuropathic pain, AKE-1018, has now been formally approved by the China Patent Office,' said Akelos Founder Dr. Steven Fox. 'This patent extends protection of our lead compound to China from the US and Japan. It will enable us to continue to develop this product, as well as next generation therapeutics. This news represents an important corporate achievement.'
'Formal approval by the patent offices of the US, Japan and China for our patent 'SUBSTITUTED ALKYLPHENOLS AS HCN1 ANTAGONISTS' is both the culmination of a significant effort by our entire team in the field of neuropathic pain therapeutics and it underpins our strategy to develop a novel drug delivery platform for other medical conditions beyond neuropathic pain,' said Dr. Goldstein, Akelos scientific co-founder and member of its Scientific Advisory Board who holds a financial interest in Akelos Inc.
Akelos Inc. is dedicated to developing and commercializing a novel, non-opioid anti- hyperalgesic drug to treat chronic and neuropathic pain, and has entered into a research collaboration with Weill Cornell Medicine aimed at advancing the underlying science.
For more information, please contact:
Akelos Inc.
Dr. Steven Fox, CEO 212-953-1544
[email protected] About Akelos Inc.
Akelos Inc. is a biopharmaceutical clinical company focused on the translation of innovative science into treatment. The company currently is developing novel non- narcotic drugs for the treatment of neuropathic pain. The goal of Akelos is to address some of today's most pressing areas of unmet needs.
Forward-Looking Statement
Steven Fox
Office of Dr. Steven Fox
+1 212-953-1544

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

CNBC

an hour ago

• CNBC

China's property sector has been in an extended slump. Shrinking population is making it worse

China's real estate sector has grappled with a deepening downturn for years. Now a shrinking population is casting another shadow over the stagnant property market. Goldman Sachs estimates that demand for new homes in Chinese urban cities will remain suppressed at under 5 million units per year in the coming years — one fourth of the peak of 20 million units in 2017. "Falling population and slowing urbanization suggest decreasing demographic demand for housing" in the coming years, Goldman Sachs economists said in a note Monday. The country's population is estimated to fall to below 1.39 billion by 2035 from 1.41 billion, according to World Bank's latest data, said Tianchen Xu, senior economist at Economist Intelligence Unit, citing a combination of fewer newborns and more deaths from an ageing population. Shrinking population will cripple home demand by 0.5 million units every year in the 2020s and a lead to a bigger dent of 1.4 million units annually in the 2030s, Goldman Sachs estimates, compared to the positive contribution of 1.5 million units in the 2010s when population was on a steady rise. Fertility rate in the country has continued to fall even after Beijing relaxed its one-child policy in 2016, and despite Beijing's efforts to incentivize child-bearing via cash incentives. Stagnant incomes, instability over job prospects and a poor social security system have dissuaded Chinese young people from having more babies. Beijing's pronatalist policies will likely have "limited effect" as they do not address the deep-rooted issues, Xu said, such as high economic costs for child-bearing and people's tendency to postpone marriage for career progression and "an embrace of individuality." Underscoring the declining birth rates, nearly 36,000 kindergartens across the country closed down over the past two years, with the number of students in preschools falling by over 10 million. That's according to CNBC's calculation of the official data released the Ministry of Education. Similarly, the number of elementary schools dropped by nearly 13,000 between 2022 and 2024. That is rippling through school-adjacent housing markets that once saw inflated prices on the back of strong demand for better public schools. The once-sizable premium was fueled by access to elite schools and expectations of rising property values. But with a shrinking population and local governments scaling back district-based enrollment policies, the added value of these homes has started diminishing, according to William Wu, China property analyst at Daiwa Capital Markets. A mother of a 7-year-old boy in Beijing told CNBC that the price of her apartment had fallen by about 20% from over two years ago when she bought it. It cost her roughly twice the average price for an apartment in the city, so that her son could attend a good elementary school. The number of children entering primary school in 2023 reached the highest level in over two decades, according to Wind Information, before dropping in 2024, the year her son enrolled. That demographic shift is an additional overhang to the property market, which has struggled to emerge from a painful downturn since late 2020. Despite a raft of central and local government measures since last September, the real estate slump has shown little sign of abating. New home prices fell at their fastest pace in seven months in May, according to Larry Hu, chief China economist at Macquarie, extending a two-year stagnation, despite the government efforts aimed at arresting the decline. New home sales in 30 major cities fell by 11% year on year in the first half of this month, worsening from the 3% drop in May, Hu said. "Holders of investment properties are likely to be net sellers (to owner-occupiers) for the foreseeable future," over expectations that home prices will continue to fall, Goldman Sachs estimates. While Goldman expects the rise in China's urbanization rate to temper in the coming years, hurting urban housing demand, Wu said demographic drag on the property market was not yet "imminent" and may take decades to play out. In the nearer term, "some of this decline will be offset by continued urbanization, and housing upgrade demand," Wu said, as the latter would account for an increasing share of China's total housing demand.

Business Insider

4 hours ago

• Business Insider

Stock Market News Review: SPY, QQQ Slip as Recession Signal Flashes, Fed Officials Split on Rate Cuts

Both the S&P 500 (SPX) and Nasdaq 100 (NDX) closed the Friday trading session in the red as geopolitical and economic uncertainty continue to persist. Confident Investing Starts Here: The market received a morning boost after President Trump announced on the Juneteenth holiday that the U.S. would hold off from striking Iran's nuclear facilities for two weeks to allow a window for negotiations. However, those gains were quickly erased after The Conference Board's Leading Economic Index (LEI) flashed a recession signal. The LEI has fallen by 2.7% for the six months ended May, with its annualized six-month growth rate dropping below -4.1%, one of the two requirements that trigger a recession warning. The other requirement occurs when the six-month diffusion index reaches or drops below 50, which signals that most of the components within the LEI are falling. The components include manufacturing, labor market, sentiment, and credit statistics, among others. The recession indicator isn't perfect, although it did precede the recessions of 2000 and 2008 while issuing false signals in 2022, 2023, and 2024. Meanwhile, chip and AI stocks took a hit after a Wall Street Journal report that the U.S. Department of Commerce (DOC) is planning on restricting Samsung, SK Hynix, and Taiwan Semiconductor's (TSM) access to American chip-making technology in their Chinese factories. The three companies currently enjoy a blanket waiver on moving U.S. chip-making equipment to their Chinese facilities, although DOC export controls head Jeffrey Kessler has informed them that the waivers could be cancelled. The policy hasn't been set in stone yet, however. In interest rate news, Fed officials are split on when to cut rates sooner or later. Fed Governor Christopher Waller supports a rate drop as soon as July while Richmond Fed President Thomas Barkin doesn't see a rush for lower rates while the labor market and consumer spending remain healthy. 'I don't think the data gives us any rush to cut… I am very conscious that we've not been at our inflation target for four years,' said Barkin in an interview with Reuters.

UPI

8 hours ago

• UPI

U.S. company to provide $6 billion loan for British nuclear power project

Protesters hold banners outside Hinkley Point power station in Somerset, United Kingdom, in 2011 against EDF Energy's plans to renew the site with two new reactors. The project began in 2017 and has had delays and funding problems File Photo by Ben Birchuk/EPA June 20 (UPI) -- Apollo, a U.S. asset management group, plans to provide a $6 billion loan to the British nuclear project Hinkley Point C being built by a French multinational electric utility company. Hinkley's estimated cost has soared from $23.7 billion to almost $60.6 billion and won't be operational until at least 2029, Baha Breaking News reported. Construction began in 2017. Apollo will provide an investment-grade debt financing package at an interest rate below 7% for the project developer, Electricite de France, sources told CNBC and the Financial Times. Apollo, which was founded in 1990 by Leonard Black, Josh Harris and Marc Rowan, manages capital for institutional and individual investors. Apollo, headquartered in New York City, had revenue of $26.11 billion in 2024 with a net income of $6.373 billion. The loan has a maximum maturity of 12 years. EDF is building two new nuclear reactors at the site in Somerset and will be able to borrow $2 billion each of the three years as part of the package. The company has had a shortfall since China General Nuclear Power Group, which was supposed to provide a third of the cost of the project, stopped providing further financing in 2023. CGN was removed by the British government from another project -- Sizewell C -- because of concerns about Chinese influence. The funding could be used for other British projects by EDF. Jamshid Ehsani, head of global principal structured finance at Apollo, described the deal as the "largest ever" sterling private credit deal. "It's going to help finance a critical, low-carbon nuclear project. This is the business Apollo is in today," he said. "Europe is a huge focus for us."