Psychedelics & IP: How Companies Are Building Moats in a New Market
Ryan Allway
April 17th, 2020
Psychedelics
The psychedelics industry is following a familiar playbook when it comes to patent law — cannabis went through a similar stage as therapies went into clinical trials.
Sandoz Ltd. scientists isolated psilocybin from magic mushrooms in the 1950s and were granted U.S. Patent No. 3,183,172 “Obtaining Psilocybin and Psilocin from Fungal Material” and U.S. Patent No. 3,192,111 “Method of Inducing Therapeutic Tranquilization with Psilocybin and Psilocin”. Of course, the Drug Enforcement Administration (DEA) prevented these patents from having any value and they expired worthless.
More than 50 years later, Compass Pathways Ltd. filed U.S. Patent No. 10,519,175 “Preparations of Psilocybin, Different Molymorphic Forms, Intermediates, Formulations and Their Use” on December 31, 2019. The company’s psilocybin therapy received a Breakthrough Therapy designation from the FDA in 2018, enabling expedited development and reviews.
Just two months later, Kohn & Associates PLLC filed a petition for a Post Grant Review of the new patent with the Patent Trial and Appeal Board (PTAB) at the U.S. Patent and Trademark Office. The petitioner argues that the claims in the patent are invalid and the patent shouldn’t have been granted because they are obvious in view of articles in scientific literature that was published before the patent’s priority date.
The PTAB set a deadline of May 26, 2020 for Compass Pathways to respond to the petition and the USPTO is likely to review the case and make a decision within six months.
Investors interested in the space may want to consider the January 2019 trial between Insys Development Company Inc. and GW Pharma Limited and Otsuka Pharmaceutical Co. regarding the use of cannabidiol, or CBD, to treat partial seizure. The challenger argued that the claimed dosage was obvious in previous scientific literature and the dosage-related claim was struck down — but claims about the combination of CBD and other cannabinoids were allowed to stand.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About CFN Media Group
CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.
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