LOS ANGELES, CA -- (Marketwired) -- 06/25/13 -- MMRGlobal, Inc. (OTCQB: MMRF) ("MMR") today announced that it has received another biotechnology patent, this one in Hong Kong. The Company has been advised that it is receiving Hong Kong Patent No. 1052295B which will issue this month. The patent entitled "Method and Composition for Altering a B Cell Mediated Pathology" protects certain methods of manufacturing compositions for B-Cell vaccines used in the fight against lymphoma and potentially other forms of cancer. MMR continues to receive patents from foreign patent offices for its cancer fighting technologies similar to those already issued and/or pending in various countries of commercial interest, including a European Union Patent issued in February this year which covers Great Britain, France, Germany, Switzerland, Italy, the Netherlands, Denmark, Sweden, Finland, Ireland, Belgium and Spain. Patents also have previously been issued in Mexico and Singapore in addition to the United States.
According to Robert H. Lorsch, MMRGlobal CEO, "Clearly, MMR's future is being built on our intellectual property assets patent by patent, which we believe will ultimately continue translating themselves into license agreements. In less than two years, we had already entered into a $13 million licensing agreement with Big Pharma. Meanwhile, the Company is continuing to diligently concentrate its efforts on building both its biotech and health information technology patent portfolios. We are protecting our cancer fighting sciences while we invent health IT management systems to empower patients with cost-effective ways to better care for themselves and their family. Our IP covers an entire spectrum from cancer fighting science to personalized cost-effective health management systems."
In addition to the Company's newest cancer fighting vaccine patent, MMR also has other biotech patents which include anti-CD20 monoclonal antibodies. These patents were granted in the U.S., Australia and Mexico under the title, "Antibodies and Methods for Making and Using Them." Additional patent applications for the Company's antibodies, which have particular utility in fighting cancers, are pending in a number of other countries including Brazil, Canada, China, Hong Kong, India, Europe, Japan and Korea. The anti-CD20 monoclonal antibodies are also considered extremely important assets of the Company based on benefits and commercial value as demonstrated by Rituxan®, an anti-CD20 monoclonal antibody with reported sales of USD $7.285 billion in 2012, which is due to go off patent in 2015.
The Company invested more than $100 million in research and development pertaining to its vaccine trials and use of customized tumor cells to treat lymphoma patients and other technologies. Over the past two years, MMR has been working to license and otherwise exploit an extensive portfolio of biotech assets, which includes its anti-CD20 monoclonal antibodies, data from vaccine trials, thousands of patient tumor samples and other intellectual property including numerous worldwide patents in various stages. The Hong Kong patent will become part of the Company's biotechnology portfolio acquired as a result of its reverse merger with Favrille, Inc., a biopharmaceutical company, in January 2009. MMR is already licensing portions of its biotech portfolio, including a remaining $12 million portion of a $13 million non-exclusive licensing agreement with a major biopharmaceutical company. MMR also continues to pursue licensees including hospitals and university partnerships to further exploit the value of its biotech assets.
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