Provectus Pharmaceuticals Receives US Patent Allowance to Provide Further Protection for Novel Photodynamic Drug PH-12KNOXVILLE, Tenn.--(BUSINESS WIRE)--Mar 4, 2008 - Provectus Pharmaceuticals, Inc. (OTC BB: PVCT), a development-stage oncology and dermatology biopharmaceutical company, has received allowance of a second US patent application protecting a novel photoactive analog of its lead photodynamic product PH-10, from the United States Patent and Trademark Office (USPTO). The pending patent covers systemic use of the drug, PH-12, for photodynamic treatment of cancer, skin diseases, and other tissue disorders using visible light activation.
"As with PH-10, visible light can be used to activate PH-12 in target tissue," noted Craig Dees, PhD, CEO of Provectus. "Because it was designed to have enhanced efficiency of activation, it is particularly suitable for treatment of internal body tissues or larger diseased areas."
Dees continued: "While we remain focused on clinical development of our lead therapeutic products, PV-10 for cancer and PH-10 for dermatology, this new patent will further solidify an important longer-term opportunity in our development pipeline. It is likely to be some time before we commence clinical testing of PH-12, but given the large potential value in markets worldwide, protection of this new technology enhances value for our shareholders now."
The allowance increases Provectus' US patent portfolio to five pending and seventeen issued patents, with the Company's most recent patent, US Patent 7,338,652, having issued earlier today. In mid-January, the Company received allowance of its patent application in India covering its lead dermatology agent, PH-10, along with a number of related agents, for treatment of skin diseases such as psoriasis and eczema. In February, Provectus received allowance of its patent applications in Europe and China covering diagnostic use of PV-10 and a number of related agents in CT and MRI imaging.
About Provectus Pharmaceuticals, Inc. (www.pvct.com)
Provectus Pharmaceuticals is a development stage company that specializes in oncology and dermatology therapies that are safer, more effective, less invasive and more economical than conventional therapies. Provectus is currently conducting Phase 2 clinical trials of their proprietary drugs PV-10 as a therapy for metastatic melanoma and PH-10 as a topical treatment for moderate to severe psoriasis. Information about these and the Company's other clinical trials can be found at the NIH registry, www.clinicaltrials.gov. The Company has received orphan drug designation from the FDA for its melanoma indication. Complementing their suite of proprietary drugs, Provectus has developed a number of intellectual properties and technologies in the areas of imaging, medical devices and biotechnology. For additional information about Provectus please visit the Company's website at www.pvct.com or contact Porter, LeVay & Rose, Inc. via the information provided above.
FORWARD-LOOKING STATEMENTS: The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date thereof.
Provectus Pharmaceuticals, Inc.
Peter R. Culpepper, CFO, 866-594-5999 #30
Porter, LeVay & Rose, Inc.
Marlon Nurse, VP, 212-564-4700
Posted: March 2008