Singapore-based homegrown, specialty pharmaceutical company iX Biopharma Ltd. (“iX Biopharma” or, together with its subsidiaries, “the Group”) has announced that it has been granted a patent in Canada (no. 2777218) for its WaferiX* drug delivery technology. Canada has a potential market size of C$515 million and C$97 million for opioids and sleep aids, according to Patented Medicine Prices Review Board of Canada and Euromonitor respectively.
* The WaferiX™ technology consists of a small wafer prepared by proprietary formulation using the freeze drying process. The wafer is intended to be placed under the tongue, which subsequently dissolves within one minute, releasing the active compounds for rapid absorption in a time sensitive manner. The wafer administration is reported to be tolerable with no after-taste, leaving behind no residue or grittiness under the tongue hence preventing the urge to swallow.
The Group has also been granted a patent in South Korea this year, while counterpart patents were granted in Australia, Indonesia, Japan, Malaysia, New Zealand and Singapore prior to that.
The grant of the Canadian patent, which expires on 26 October 2030, marks another milestone for iX Biopharma, following the positive results received in September 2016 from its bio-equivalence study for PheoniX, a drug for the treatment of male erectile dysfunction.
About iX Biopharma Ltd
iX Biopharma Ltd is a Singapore public-listed specialty pharmaceutical company, with manufacturing and laboratory testing facilities in Australia. The Group is focused on the development and commercialisation of innovative therapies for improving the quality of life of those suffering from pain and other health conditions.
The Company leverages its patented sublingual drug delivery technology, WaferiX, to develop proprietary products that incorporate pharmacologically active compounds that have been approved by the United States Food and Drug Administration.
Its pipeline of products under development includes Wafermine and BnoX for pain management, PheoniX for erectile dysfunction, and WafeRest for improved sleep quality.