Feb 14, 2023

News Provided By Share This Article Akelos Inc., a biotechnology company currently developing and commercializing a novel, non-opioid anti- hyperalgesic drug to treat chronic and neuropathic pain. We are delighted to announce that the patent for our lead compound for the treatment of peripheral neuropathic pain, AKE-1018, has been formally approved by the US Patent Office.” — Dr.Steven Fox NEW YORK, NEW YORK, UNITED STATES, February 14, 2023 / EINPresswire.com / -- 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 United States Patent and Trademark Office has allowed a patent application (17/254,787) with claims covering a number of compounds including its lead compound and their pharmaceutical compositions. 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. “We are delighted to announce that the patent for our lead compound for the treatment of peripheral neuropathic pain, AKE-1018, has been formally approved by the US Patent Office,” said Akelos Founder Dr. Steven Fox. "The protection that the patent affords 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 US Patent Office 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. 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. Drstevefox@akelosinc.com 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 This press release contains forward-looking statements. These forward-looking statements are based on management's expectations and are subject to certain factors, risks and uncertainties that may cause actual results, outcomes of events, timing and performance to differ materially from those expressed or implied by such statements. These statements include, among others, those related to: the results of research and development activities, uncertainties relating to preclinical and clinical testing, the cost, timing and outcome of the regulatory development and approval process, our budgets, expenditures and financing plans, our need for substantial additional funds, patent and intellectual property matters, our dependence on third parties, including contract research and contract clinical trial organizations, and market opportunity and competition. The information contained in this press release is believed to be current as of the date of original issue. Akelos, Inc. expressly disclaims 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 with regard thereto or any change in events, conditions or circumstances on which any such statements are based. Steven Fox