Graphene 3D Lab Inc., is pleased to announce the US Patent Office has approved the issuance of the "Process for Synthesizing Trifluoroketones" patent (the "Patent"). The Patent secures the Company's IP rights used in the procedure (the "Technology") for producing a certain class of trifluoroketones, chemical compounds used in drug manufacturing. This Technology is designed to deliver high quality compounds that are free from toxic byproducts, which can otherwise appear when using alternative methods.
Furthermore, the Technology that is described in the patent was utilized by the Company during collaborations with a major pharmaceutical industrial partner (see press releases March 29, 2018 and February 21, 2019). The Company successfully implemented its now patented technology at a manufacturing facility in Europe and received installment royalty payments totaling US$202,000 for licensing the Technology.
The product that was produced with the Company's major partner is now undergoing Phase 2a clinical trials which are expected to finish in February 2020. Data collected during Phase 2a will then be used in Phase 2b efficacy tests.
The Company will explore further potential licensing and royalty arrangements, or a complete sale of its IP.
Daniel Stolyarov, CEO of the Company, stated: "Having another technological process with this kind of potential approved by the US Patent Office marks another major milestone for the Company. We have a strong relationship with a trusted Partner and received royalty payments for the licensing of our technology even when the US Patent Office was still reviewing our patent application. With our IP rights secured and further endorsement for the novelty of our new procedure, we are positioned to explore further potential licensing and royalty arrangements, or a complete sale of the IP."
Stolyarov added, "We are also very pleased and proud that our technology has the potential to be used for the noble purpose of helping people with illness and relief of their suffering."
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