Uppsala, January 23, 2023. The pharmaceutical company Dicot AB that develops LIB-01 to become a new potency drug, today announces that it is moving forward with a new patent application. The patent application covers the new oral formulation for LIB-01 that was developed in 2022 and which will be used in the phase 1 clinical studies. This follows the IP strategy earlier communicated by the company.
Dicot proceeds with one of its trade secrets and a new patent application based on this will be submitted to the Swedish Patent and Registration Office. It concerns the patenting of a way to formulate LIB-01 that enables an improved administration. The new oral formulation was developed during 2022 and will be used in the company's clinical phase 1 studies.
Dicot announced last year that several new patent opportunities were documented and protected as trade secrets, in order to convert these into patents at the right point of time. The purpose of the strategy is to ensure the longest possible market exclusivity for LIB-01 and thereby increase shareholder value. In line with this strategy the company filed for a new patent last autumn, covering new manufacturing methods and various chemical compounds, and now Dicot moves forward with another trade secret for conversion into a new patent.
"With this we continue to deliver according to our IP strategy. Dicot's IP-portfolio is already a unique asset on the multibillion market of sexual dysfunctions and with new patents we strengthen our position and the value of LIB-01 further with 20 years market exclusivity", comments Elin Trampe, CEO of Dicot.
For further information, please contact:
Elin Trampe, CEO
Phone: +46 739 80 14 08
About Dicot AB
Dicot is developing the drug candidate LIB-01, which will be a potency agent to better treat erectile dysfunction and premature ejaculation. The ambition is to create a drug with significantly longer effect and far fewer side effects, compared to current available drugs. Today, over 500 million men suffer from these sexual dysfunctions and the market is valued at USD 7 billion. Dicot's strategy is to develop LIB-01 under own auspices until phase 2a studies and thereafter in partnership with larger, established pharmaceutical companies, finance and develop LIB-01 further to a registered pharmaceutical on the world market.
Dicot is listed on Spotlight Stock Market and has approximately 3,300 shareholders. For more information, please visit www.dicot.se.