Wed, 26 Jun 2024

MALVERN, Pa., June 26, 2024 (GLOBE NEWSWIRE) -- via IBN – Annovis Bio Inc. (NYSE: ANVS) ("Annovis" or the "Company"), a late-stage clinical drug platform company pioneering transformative therapies for neurodegenerative disorders such as Alzheimer's Disease (AD) and Parkinson's Disease (PD), announces the filing of the new composition of matter patent with the U.S. Patent and Trademark Office covering novel solid forms of buntanetap, selecting the best crystal, and building upon the provisional patent filed in June 2023.

This patent covers novel crystalline forms of buntanetap and their use for treating and/or preventing various neurodegenerative conditions. Crystalline forms offer significant advantages over less structured forms, including better solubility and stability. The most stable crystal form of buntanetap (CAS# 3032752-92-1) has been selected as the new lead compound for animal bridge studies and for developing a manufacturing process. The bridge studies were submitted to the FDA and will be discussed in July. The goal is to continue development of our drug and file the NDA with the new crystal form.

"The invention of a new solid form of our drug, buntanetap, and the subsequent patent filing represent groundbreaking milestones for our company. This achievement will allow us not only to continue advancing our pipeline, but also to enhance the drug's properties, ultimately providing greater benefits to our patients," said Maria Maccecchini, Ph.D., Founder, President, and CEO of Annovis.

A composition of matter patent comes with protection for the new buntanetap crystalline form and all its uses for a 20-year term. The composition of matter patent is the single most important patent for any pharmaceutical company developing a new drug because it provides adequate runway to develop a drug and bring it to market.

About Buntanetap
Buntanetap (formerly known as Posiphen or ANVS401) targets neurodegeneration by inhibiting the formation of multiple neurotoxic proteins, including amyloid beta, tau, alpha-synuclein, and TDP43. This action improves synaptic transmission, axonal transport, and reduces neuroinflammation. Dysregulation of these pathways has been shown to cause nerve cell degeneration and ultimately nerve cell death. By targeting these pathways, buntanetap has the potential to reverse neurodegeneration in Alzheimer's, Parkinson's, and other neurodegenerative diseases, thereby aiming to restore brain function and improve the quality of life for patients.

About Annovis Bio, Inc.
Headquartered in Malvern, Pennsylvania, Annovis Bio Inc. is dedicated to addressing neurodegeneration in diseases such as AD and PD. The company's innovative approach targets multiple neurotoxic proteins, aiming to restore brain function and improve the quality of life for patients. For more information, visit www.annovisbio.com and follow us on LinkedIn, YouTube, and X.

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Forward-Looking Statements
This press release contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, the Company's plans related to clinical trials. Forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include, but are not limited to, those related to patient enrollment, the effectiveness of buntanetap, and the timing, effectiveness, and anticipated results of the Company's clinical trials evaluating the efficacy, safety, and tolerability of buntanetap. Additional risk factors are detailed in the Company's periodic filings with the SEC, including those listed in the "Risk Factors" section of the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. All forward-looking statements in this press release are based on information available to the Company as of the date of this release. The Company expressly disclaims any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

Contacts
Annovis Bio, Inc.
101 Lindenwood Drive
Suite 225
Malvern, PA 19355
www.annovisbio.com

Investor Contact
Scott McGowan
InvestorBrandNetwork (IBN)
Phone: 310.299.1717
‍IR@annovisbio.com
Investor Website

Source: Annovis Bio, Inc.