Coronado Biosciences Granted First U.S. Patent Covering CNDO-109

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| Source: Coronado Biosciences

BURLINGTON, Mass., Sept. 5, 2012 (GLOBE NEWSWIRE) -- Coronado Biosciences, Inc., (Nasdaq:CNDO), a biopharmaceutical company focused on the development of novel immunotherapy agents for the treatment of autoimmune diseases and cancer, today announced the U.S. Patent and Trademark Office (USPTO) has granted a key patent for CNDO-109, licensed by Coronado Biosciences from the University College London Business PLC, for its Natural Killer (NK) cell therapy program. The patent, U.S. Patent Application No. 8,257,970, is entitled, "Method for activating natural killer cells by tumor cell preparation in vitro" and has a current expiration date of January 2029.

"The issuance of this patent is central to our intellectual property portfolio around CNDO-109, and we are excited to have it in place as we prepare to begin the clinical development of this compound in oncology patients," said Dr. Bobby W. Sandage, Jr., Coronado's President and CEO. "We are continuing to pursue a global patent strategy for CNDO-109 through the prosecution of multiple patent applications in the United States, Europe and Asia. In addition, earlier this year we received Orphan-Drug Designation from the FDA for CNDO-109 for the treatment of acute myeloid leukemia."

The granted claim set is directed to methods of activating NK cells as well as to activated NK cell compositions and their use in methods for treating cancer. The claims broadly cover activating tumor cell preparations capable of priming NK cells to kill tumor cells, including tumor cells previously resistant to NK cell lysis. The core NK activation technology was developed in the laboratory of Dr. Mark Lowdell, Director of Cellular Therapy & Biobanking at Royal Free Hampstead NHS Trust and Assistant Professor and Senior Lecturer in Hematology at University College London. Coronado acquired the exclusive worldwide rights to develop and market CNDO-109 from the University College London Business PLC.

CNDO-109 is a biologic that activates the immune system's NK cells to seek and destroy cancer cells. Preclinical studies of CNDO-109 have demonstrated activity in multiple myeloma, breast cancer, prostate cancer and ovarian cancer and, based on data obtained from a Phase 1 investigator-sponsored clinical trial in patients with acute myeloid leukemia (AML), the Company believes early efficacy was observed. Coronado currently plans to initiate a Phase 1/2 dose escalation trial in AML patients in the second half of 2012. 

About Coronado Biosciences

Coronado Biosciences is engaged in the development of novel immunotherapy biologic agents.  The company's two principal pharmaceutical product candidates in clinical development are: TSO (Trichuris suis ova or CNDO-201), a biologic for the treatment of autoimmune diseases, such as Crohn's disease, ulcerative colitis and multiple sclerosis; and CNDO-109, a biologic that activates natural killer (NK) cells, for the treatment of acute myeloid leukemia (AML) and solid tumors.  For more information, please visit www.coronadobiosciences.com.

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Forward-Looking Statements

This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to the company's product development programs and any other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated risks relating to the results of research and development activities, uncertainties relating to preclinical and clinical testing, financing and strategic agreements and relationships, the early stage of products under development, our need for substantial additional funds, government regulation, patent and intellectual property matters; our dependence on third party suppliers and competition, as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.

Lucy Lu, MD, Executive Vice President &
Chief Financial Officer
Coronado Biosciences, Inc.
781-238-6619; 
or
Tricia Swanson, Associate
The Trout Group, LLC.
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