AGT Biosciences Patents Novel Targets For Over The Counter Obesity Therapies
AGT Biosciences Limited (ASX: AGT) took a step closer to the US$12 billion over the counter (OTC) obesity market with the announcement today that it has identified and lodged patent applications for 10 new proteins that have been confirmed as probable targets for the treatment of obesity.
The novel proteins deliver messages to the nerves indicating "fullness" or satiation leading to a reduction in food intake.
AGT Biosciences has partnered with the Institutes for Pharmaceutical Discovery in the US for the screening of natural compounds that block and stimulate these proteins - the first stages to developing drugs that could combat obesity and anorexia (in those whose appetite is suppressed).
The discovery of natural compounds that reduce appetite means that AGT Biosciences will be one of the first companies to take a rational OTC therapy to market. Natural compounds can be registered as dietary supplements in the US and other major jurisdictions.
Obesity is an increasingly significant disease in developed countries. It has been widely reported that obesity and over-weight affect 65% of the US population and that other western societies are showing similar trends. Despite the rapid growth and attractive size of this market, it continues to be under-served by the prescription pharmaceutical industry, with almost 95% of all sales to treat obesity being OTC medications.
The global market for OTC anti-obesity medications is currently estimated at more than US$12 billion annually, and is predicted to grow by more than 20% per annum until 2010.
About AGT Biosciences
AGT Biosciences Limited is a listed Australian biotechnology company with laboratories in Australia and the USA. The company has significant capabilities in diabetes and obesity research and has a long term agreement with the European pharmaceutical company Merck Santé worth more than $38 million. This research alliance has generated a substantial suite of intellectual property with 73 genes and proteins protected and 4 validated targets having been the subject of commercialization and license agreements. In addition to its human therapeutics business, AGT Biosciences also has business units that operate in the fields of diagnostics, animal therapeutics, OTC medications and fee-for-service research provision.