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Pharmacyte Biotech Inc (OTCMKTS:PMCB) Will Apply For Provisional Patent With the USPTO To Protect Its Therapy To Cure Cancerous Tumors

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Pharmacyte Biotech Inc (OTCMKTS:PMCB) expects to begin the phase 2b clinical trial to cure LAPC (locally advanced, inoperable pancreatic cancer) across the US at trial sites. The company needs to safeguard the Cell-in-a-box, its signature technology if it receives marketing approval from the European and the US regulatory authorities.

Revamps provisional patent application

Pharmacyte is planning to revamp its provisional patent application and the strategy to apply for full patent protection. It will submit a provisional patent application that is acceptable to the USPTO (The United States Patent and Trademark Office) to protect its therapy to cure cancerous tumors that comprise the therapy for use in the LAPC clinical trial.

Protects the date of invention

The main aim of the provisional patent applications is to establish and safeguard the date of invention. It can also be used to protect the priority filing date for a year.  The provisional patent application is created to help the inventors to start protecting their inventions. Pharmacyte will get 12 months’ time to apply for a full patent after getting the nod for a provisional patent.

Protection for 20 years

Pharmacyte can protect its invention for 20 years after receiving the full patent. The company can safeguard its inventions for ten years, even without a patent as applicable for pharmaceutical/ biotechnology companies.

The companies receive the patent within a few years after applying for the patent. There is a misconception that the patent applies only after the drug hits the market. Pharmacyte will have protection for its inventions for several years when compared to the pharmaceutical/ biotechnology companies that will get the market nod after development.

The affordable care act protects Pharmacyte because the company is developing biologic therapy. Pharmacyte will also get orphan drug protection from EMA (the European Medicines Agency) in the EU and the US FDA because it is developing the drug for pancreatic cancer.

Pancreatic cancer therapy developed by Pharmacyte is designated as an orphan drug. As a result, Pharmacyte will enjoy market exclusivity for seven years for its therapy for the treatment of pancreatic cancer after getting the US FDA nod. The company will also enjoy marketing exclusivity in the EU for ten years because it has got orphan drug designation in Europe for pancreatic cancer therapy.

The market for global pancreatic cancer therapy expects to reach $4,728.19 million by the year 2026 from $1904.20 million in the year 2018.

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