Microbion Corporation Announces Litigation Settlement Agreement, Including a License Agreement, with NYU Langone Health
BOZEMAN, MT. May 4, 2020 – Microbion Corporation of Bozeman, MT (“Microbion”), today announced that it agreed to enter into a settlement agreement with NYU Langone Hospitals (formerly NYU Winthrop Hospital)(“NYU Langone”) resolving litigation between them. The settlement agreement includes a licensing agreement with NYU Langone where Microbion is assigned NYU Langone’s rights to certain patents related to the bismuth-thiol (BTs) technology jointly developed by Dr. Brett Baker of Microbion and Dr. Philip Domenico of NYU Langone and is licensed certain other NYU Langone rights related to BTs. Microbion and NYU Langone agreed that Drs. Baker and Domenico are joint inventors of 3 patents granted to Microbion by the United States Patent and Trademark Office.
“We are grateful to Dr. Domenico for his initial foundational research on bismuth thiols. Microbion has since improved upon them to create pravibismane,” said Dr. Brett Baker, Microbion’s President and Chief Scientific Officer. “Pravibismane is Microbion’s lead therapeutic candidate and the first compound in a new class of microbial bioenergetic inhibitor agents.”
Microbion will pay NYU Langone commercial milestone payments on achieving certain net sales of bismuth-thiol products. Other details of the agreement have not been disclosed.
Microbion is a clinical-stage biopharmaceutical company developing pravibismane as the first product in a new class of anti-infective drugs with a mechanism of action that functions as a microbial bioenergetic inhibitor for the local treatment of antibiotic-resistant and difficult to treat infections. Pravibismane has antibacterial efficacy against a broad spectrum of pathogens, including multiple priority pathogens or “superbugs” identified by the US CDC. In addition to antibacterial efficacy, pravibismane has also demonstrated the ability to eradicate microbial biofilms. This dual antimicrobial action may offer a much-needed, novel, clinical approach to treat infections. Microbion has been granted QIDP and Fast Track designations for multiple indications. Microbion is advancing pravibismane in clinical trials for two locally administered indications. The International Nonproprietary Name (INN) recommended by the WHO of pravibismane is the first member in the bismane class which represents a novel class of anti-infective drugs.
For more information visit: www.microbioncorp.com.
Safe Harbor Statement
Certain of the statements made in this press release are forward-looking, such as those, among others, relating to the success of clinical development of pravibismane or MBN-101 and preparation for potential commercialization. These statements are subject to risks and uncertainties that could cause actual results and events to differ materially from those anticipated, including, but not limited to, risks and uncertainties related to: our ability to enroll patients in our clinical trials at the pace that we project; the size and growth of the potential markets for pravibismane or MBN-101 or any future product candidates and our ability to serve those markets; our ability to obtain and maintain regulatory approval of pravibismane or MBN-101 or any future product candidates; and our expectations regarding the potential safety, efficacy or clinical utility of pravibismane or MBN-101 or any future product candidates. Actual results or developments may differ materially from those projected or implied in these forward-looking statements. Microbion Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Chief Business Officer