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Toronto, Ontario--(Newsfile Corp. - June 29, 2022) - Satellos Bioscience Inc. (TSXV: MSCL) ("Satellos" or the "Company"), a regenerative medicine company aimed at developing therapeutics that change the way degenerative muscle diseases are treated, announced today that it has licensed a provisional patent application, recently filed with the United States Patent and Trademark Office and titled "MODULATION OF SATELLITE CELL POLARITY AND ASYMMETRIC CELL DIVISION," from the Ottawa Hospital Research Institute ("OHRI").
"This patent filing broadens our intellectual property portfolio and strengthens our competitive position by expanding our understanding of regulatory pathways and therapeutics capable of modulating muscle stem cell activity," said Satellos Co-Founder and CEO, Frank Gleeson. "Accordingly, the underlying discoveries outlined in this patent application will help us accelerate our discovery and development efforts for a novel treatment for Duchenne muscular dystrophy and potentially other dystrophies and muscle disorders."
Satellos Co-founder and CSO, Dr. Michael Rudnicki, a co-inventor, noted, "this new patent application represents the culmination of two years of imaginative and detailed scientific effort led by Dr. Kasun Kodippili in my academic lab at OHRI to systematically map regulatory pathways affecting stem cell polarity. The human implications from his findings for treating disease have enormous potential and I wish to congratulate and thank Dr. Kodippili and the rest of our team for this wonderful work."
"We are pleased to have a partner such as Satellos to help us turn discoveries at The Ottawa Hospital into new therapies for patients," said Dr. Duncan Stewart, CEO and Scientific Director of OHRI and Executive Vice-President of Research at The Ottawa Hospital. "By working with private sector partners, we are not only advancing health care, but also creating jobs and contributing to Canada's bioscience innovation ecosystem."
The new patent application is licensed to Satellos pursuant to an amending agreement entered into between Satellos and OHRI dated June 29, 2022 (the "Amending Agreement") which amends an existing licensing agreement dated May 1, 2018, as amended (the "Original Agreement"). Under terms of the Amending Agreement, Satellos will pay cash and common share consideration to OHRI. The Original Agreement can be found on Satellos' SEDAR profile at www.sedar.com.
About Satellos Bioscience Inc.
Satellos is a biotechnology company dedicated to developing lifechanging medicines to treat degenerative muscle conditions. Our scientists discovered what we believe to be a previously unrecognized root cause of skeletal muscle degeneration. One which has the potential to transform how muscle disorders are treated. Our scientific founder, Dr. Michael Rudnicki, is a thought leader who discovered and has shown how muscle stem cells regulate muscle repair and growth throughout life. He has shown how defects in a process known as stem cell "polarity", which controls how muscle stem cells divide to create muscle progenitor cells, lead to a failure of muscle regeneration in Duchenne and potentially other muscle disorders. As a result of this ongoing inability to produce sufficient numbers of new muscle cells, the muscles of people living with Duchenne are unable to keep up with and repair the continuous and accumulating damage their muscles experience. Satellos' lead program is focused on developing an oral therapeutic drug (i.e., a pill) intended to correct muscle stem cell polarity and restore the body's innate muscle repair and regeneration process. We believe our unique therapeutic approach represents a potential disease modifying treatment for Duchenne and other dystrophies, offering new hope to patients. To expand our programs to other degenerative muscle conditions or disorders, Satellos has created a proprietary discovery platform, MyoReGenX™, which we utilize to identify disease situations where deficits in muscle stem cell polarity and regeneration occur and are amenable to therapeutic treatment. For more information about or to discuss potential collaborations with Satellos concerning our discovery platform and therapeutic candidates or our subsidiary Amphotericin B Technologies Inc., please contact Ryan Mitchell, PhD, Director - Business Development at email@example.com or visit Satellos.com.
About the Ottawa Hospital Research Institute
The Ottawa Hospital Research Institute is the research arm of The Ottawa Hospital - one of Canada's largest learning and research hospitals. Our research spans more than a hundred different diseases, conditions and specialties with an overall focus on translating discoveries and knowledge into better health. We are proudly affiliated with the University of Ottawa and supported by The Ottawa Hospital Foundation. All members of The Ottawa Hospital follow a Responsible Innovation Framework for developing and commercializing innovations in a responsible way. https://www.ohri.ca/
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Notice on forward-looking statements:
This press release includes forward-looking information or forward-looking statements within the meaning of Canadian and U.S. securities laws regarding Satellos and its business, which may include, but are not limited to, statements with respect to the anticipated benefits of modulating stem cell polarity; its prospective impact on Duchenne patients and muscle regeneration generally; projected benefits of Satellos' therapeutic approach, including small molecule drug candidates; Satellos' technologies and drug development plans; the timeline to commence clinical trial testing in humans; the planned advancement of Satellos research and development; and the Company's priorities and anticipated achievement of milestones and evaluation plans for drug molecules. All statements that are, or information which is, not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are "forward-looking information or statements". Often but not always, forward-looking information or statements can be identified by the use of words such as "progress", "aimed", "plan", "expect", "intend", "anticipate", "estimate", "believe", "hope", "objective", "potentially", "possibly", "ongoing efforts", "develop", "pioneering", "groundbreaking", "milestone", "further", "prospect" or any variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "might", "can", "could", "would" or "will" be taken, occur, lead to, result in, or, be achieved. Such statements are based on the current expectations and views of future events of the management of the Company. They are based on assumptions and subject to risks and uncertainties. Although management believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release, may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, including risks relating to the pharmaceutical and bioscience industry, general market conditions and equity markets, economic factors and management's ability to manage and to operate the business of the Company generally. Although Satellos has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Satellos does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
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