Company shares at clinical stage Matinas BioPharma Holdings (NYSEMKT: MTNB) rose 27.9% on Monday, following the announcement of the crucial Food and Drug Administration approval.
Matinas said Monday it received conditional approval from the FDA for the brand name of its main pipeline drug, MAT9001 / Lypdiso. This name was also accepted via an authorization notice by the US Patent and Trademark Office, paving the way for Lypdiso to become a registered trademark for the company.
Brand names are crucial for biotechnology, because they can very effectively engrave a product in the memory of a consumer and considerably increase the notoriety of the product. Some of the best-named products have been successful because of both their effects and their branding – PfizerViagra is one of the many examples.
Matinas stressed that a request for a review of Lypdiso’s ownership name and final approval will be included when the company formally submits its new drug application for the drug.
MAT9001 / Lypdiso is an omega-3 fatty acid medicine that treats cardiovascular disorders. It thus competes with the Immensely popular Vascepa of Amarin. Matinas believes that its product is superior and “on its way to becoming the most effective omega-3 therapy”.
This is currently being tested in the second of two studies pitting MAT9001 against Vascepa. Data from the study is expected at some point this quarter.
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