THE NERVE OF THEM
Posted by Douglas Sorocco, April 28, 2004 at 7:20 am
File this in the press release Uh-oh category: from Yahoo! Finance comes the unfortunately titled press release -- "Medical Discoveries, Inc. Files Patent Application on Asthma." Really? Naw, you gotta be kidding me. Wait until the "frivolous patent" folks latch onto this one. Since I have occasional asthma attacks brought on by seasonal allergies -- where do I send my royalty payments? =)
Actually, the release goes on to inform the reader that Medical Discoveries hasn't filed a patent application on asthma per se: rather, they have filed a provisional patent application on a new drug candidate for the treatment of asthma.
Medical Discoveries, Inc. (OTC Bulletin Board: MLSC - News) announced today that it has filed a provisional patent application on asthma for MDI-P, its proprietary drug. The patent application was filed by Mayer, Brown, Rowe & Maw, patent counsel for MDI.
In a press release on April 22, 2004 describing the positive test results, Medical Discoveries Inc. speculated that MDI-P may prove to be a very beneficial agent exhibiting minimal toxicity for addressing asthma attacks.
Despite the promising research, in order to be qualified as an asthma therapeutic agent, MDI-P would be additionally required to undergo another complete clinical development, through satisfactory Phase III clinical studies; a process which may take many years and require substantial investment.
[no royalties due yet -- big sigh of relief!]