Living Cell Technologies files patent application over combination drug to treat dementia
Living Cell Technologies (ASX: LCT) has filed a provisional patent application over combination drug candidate AI-116 which contains cannabidiol (CBD) and an off-patent pharmaceutical ingredient for use in the treatment of dementia.
The application establishes the priority date of the invention ahead of potential competitor companies and marks the start of a second research and development project for LCT.
Living Cell is in advanced discussions with an Australian university to conduct pre-clinical studies to assess AI-116, including comparing its efficacy to an existing class of drugs used to treat dementia.
Cognitive decline
Dementia is a term used to describe a cognitive decline which affects a person’s ability to perform daily activities.
Patients with dementia typically display two or more specific difficulties including a decrease in memory skills, reasoning, language, coordination, mood and behaviour.
Alzheimer’s disease is believed to be the most common cause of dementia and is characterised by the formation of amyloid plaques and tau protein tangles in the brain, leading to the progressive degeneration of brain cells and memory loss.
There is currently no cure for dementia so treatment has remained on managing symptoms and slowing the progression of the diseases which underly the condition.
In 2021, the global dementia drugs market was valued at more than A$12.87 billion and is projected to reach A$29.3 billion by 2031, at a compound annual growth rate of 8.5%.
As people live longer due to improvements in healthcare, diet, and living conditions, the total number of people with dementia is projected to reach 82 million in 2030 and 152 million in 2050, according to the World Health Organisation.
It is one of the major causes of disability and dependency among older people worldwide.
Eyeing AI drug discovery and development
Earlier in July, LCT proposed a major makeover to be put to shareholders to change its name to Algorae Pharmaceuticals.
The company, which has made several recent significant changes and appointments, also has a pending trademark lodged for the Algorae name.
According to company management, Algorae is a unique word that is derived from the term algorithm and relates to artificial intelligence (AI).
LCT’s relatively new board of directors believes this better reflects the company’s revised business model to incorporate AI technology into its drug discovery and development programs. The company has reserved the ticker code “1AI” with ASX.
The premise for using AI in drug discovery and development is to employ computing power to trawl through immense bodies of scientific data to identify new candidates in a process that some people say will result in the development of new drugs, more quickly.