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Cosmos Health Inc. ("Cosmos Health" or the "Company'') (NASDAQ:COSM), a diversified, vertically integrated global healthcare group engaged in innovative R&D, owner of proprietary pharmaceutical and nutraceutical brands, manufacturer and distributor of healthcare products, and operator of a telehealth platform, announced today an agreement with Cloudpharm PC to acquire the rights arising from the patent filed with the World Intellectual Property Organization (WIPO), under reference code PCT/EP2023/071865.
The patent filing describes the repurposing of an existing drug to act on the Mucosa-associated lymphoid tissue lymphoma translocation protein 1 (MALT1), a key target in various diseases. This innovation proposes the use of the repurposed drug in addressing certain central nervous system (CNS) cancers, hematological cancers, allergic inflammation, and autoimmune diseases. Existing preclinical data are promising for the further development of these findings.
Figure: The repurposed MALT1 inhibitor's effect on Glioblastoma Multiforme spheroids: untreated (left), treated (right). MALT1-dependent inhibition leads to cell death.
According to Future Market Insights, the global brain tumor treatment market is expected to reach a value of $3.1 billion by the end of 2023 and is projected to grow at a compound annual growth rate (CAGR) of 7.2%, reaching a value of $6.2 billion by 2033. The increasing incidence of such cancers and the growing geriatric population are key factors expected to drive the growth of the brain tumor diagnosis market globally. During the historical period from 2018 to 2022, the market experienced a CAGR of 4.7%.
Greg Siokas, Chief Executive Officer of Cosmos Health, stated: "We are thrilled with this agreement, which aligns with our strategic decision to explore drug repurposing opportunities using advanced technology, aiming to deliver medicines faster and more efficiently. This marks another milestone reflecting our team's steadfast commitment to R&D, specifically targeting unmet medical needs. This is just the first of many significant announcements we anticipate, as we believe the best is yet to come in our journey of innovation and discovery, with our world-class R&D department targeting major health disorders like cancer, diabetes, and obesity."
Posted In: COSM
