ABVC BioPharma Receives U.S. Patent for ADHD Treatment, a $32 Billion Market
News provided byABVC BioPharma, Inc.
Nov 21, 2023, 8:30 AM ET
FREMONT, CA, Nov. 21, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- ABVC BioPharma, Inc. (NASDAQ: ABVC) ("Company"), a clinical-stage biopharmaceutical company developing therapeutic solutions in ophthalmology, neurology, and oncology/hematology, announced today that it received a U.S. patent, Application No. 17/120,965, for the use of PDC-1421, a Radix Polygala (Polygala tenuifolia Willd) extract, which is used in the Company's asset ABV-1505, targeting Attention Deficit/Hyperactivity Disorder (ADHD).
"This patent grants ABVC the right to exclude others from using, offering, or selling PDC-1421 throughout the United States until 2040," said Dr. Uttam Patil, ABVC Chief Executive Officer. "As we work towards expanding our patent map into global coverage, we eagerly await the results of patent applications in the European Union, China, Japan, and others."
ABVC submitted the patent application to the United States Patent and Trademark Office under "Polygala Extract for the Treatment of ADHD." The invention relates to oral administration of the formulation containing a Radix Polygala (Polygala tenuifolia Willd) extract, PDC-1421, as a capsule for treating ADHD. Based on current studies, the composition should be administered three times a day for eight weeks; each dose ranges between 380-760 mg of the botanical extraction.
ABV-1505, the Company's asset indicated for use in ADHD, containing PDC-1421, is a botanical-based Norepinephrine Transporter (NET) inhibitor that has completed Phase IIa clinical studies; the Phase IIb study is underway, and we expect to release the interim report by the end of the year.
According to the Polaris market research report, the global ADHD treatment market was valued at $16.13 billion in 2022 and is expected to reach $32.14 billion by 2030 with a CAGR of 7.1% over the forecast period.1
About ABVC BioPharma & Its Industry
ABVC BioPharma is a clinical-stage biopharmaceutical company with an active pipeline of six drugs and one medical device (ABV-1701/Vitargus®) under development. For its drug products, the Company utilizes in-licensed technology from its network of world-renowned research institutions to conduct proof-of-concept trials through Phase II of clinical development. The Company's network of research institutions includes Stanford University, University of California at San Francisco, and Cedars-Sinai Medical Center. For Vitargus®, the Company intends to conduct global clinical trials through Phase III.
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