Conduit Pharma's AZD1656 Receives US Patent Approval For Autoimmune Diseases Treatment

(RTTNews) - Conduit Pharmaceuticals Inc. (CDT), Monday announced that the company's lead asset AZD1656 has received the composition of matter patent from the United States Patent and Trademark Office or USPTO.

AZD1656 is a Glucokinase Activator targeting autoimmune diseases, including Lupus and ANCA Vasculitis.

Following this approval, the company intends to advance AZD1656 into clinical development, with clinical trial plans now in final stages of preparation.

Along with the US, the company now holds patent protection in three major pharmaceutical markets Japan, and Australia, with pending applications in Europe and other regions.

In the pre-market hours, Conduit's stock is trading at $1.04, up 16.8 percent on the Nasdaq.