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Double Bond Pharmaceuticals AB (publ) ("DBP") has entered into an agreement with YRRO Ltd ("YRRO") to sell the license for use of its intellectual properties including international patent application for active substance ferrous succinate, marketed as "Inofer", in the USA, Japan, China and the EU (excluding the Nordic countries).
Clinical trial results undertaken by DBP indicate that ferrous succinate ("Inofer") markedly and significantly improved iron uptake, iron saturation, and iron stores in patients with heart failure and iron deficiency.
Inofer is a low-cost oral alternative to a widely sold product called FerInject (which is, as its name indicates, administered intravenously). In 2020, FerInject reported global net sales of US$550 million.
In consideration of the acquisition of the license, shareholders of DBP will receive a 20% shareholding in YRRO via the issuance of new shares. YRRO subsequently intends to incorporate a new, wholly-owned subsidiary that will own its entire portfolio of dietary supplements and the Inofer license, which will proceed to apply for a public listing on either the Nasdaq in Stockholm or Euronext in Oslo.
More about the clinical study of Iron Succinate:
https://mb.cision.com/Main/12720/2974295/1151389.pdf,
https://www.scirp.org/journal/paperinformation.aspx?paperid=106484
More about the patent application of Iron Succinate:
https://mb.cision.com/Main/12720/2975083/1151998.pdf,
https://mb.cision.com/Main/12720/3240622/1337718.pdf
More about YRRO/BIO VITOS: YRRO Ltd is a company specializing in the distribution and sale of dietary supplements. Three different functional Cannabis products, based on Norwegian OMEGA-3 and Cannabis oil, are in preparation for submission to the Danish Medicines Agency. 29.39% of YRRO is owned by Craven House Capital plc ("CHC"), the AIM (London Stock Exchange) quoted investment company. YRRO is in the process of changing its name to BIO VITOS.
"We are pleased with the positive development of the project: after successful clinical study followed by filing an international patent application, we are now making an important step forward to commercialize the invention globally to fully explore the great market potential of the product, - comments Igor Lokot, CEO of DBP. - I am also very optimistic about the discussion with both BIO VITOS and CHC to become partners for the coming expansion of our other projects and products' development"
This disclosure contains information that DBP is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 26-10-2021 08:00 CET.