Bullfrog AI Holdings, Inc. (NASD: BFRG) witnessed a decline of -7.01% in its shares, trading at $4.64 during Wednesday’s premarket session.
However, this setback followed a remarkable surge of 44.22% in the previous trading session, with Bullfrog stock closing at $4.99. The surge was attributed to the issuance of a significant US patent.
In a recent announcement, BullFrog AI (BFRG) revealed that it would receive U.S. Patent No. 11,712,435 from the United States Patent and Trademark Office (USPTO) on August 1, 2023.
This patent serves to protect the Company’s groundbreaking prodrugs derived from mebendazole and their application in treating various diseases, including cancer.
These patented compounds showcase improved solubility and oral bioavailability compared to the original drug, resolving a major obstacle faced when evaluating mebendazole’s potential in oncology treatments.
The grant of U.S. Patent No. 11,712,435 is a pivotal achievement for BullFrog AI, as it is the first patent resulting from the intellectual property licensed from Johns Hopkins University in October 2022.
Under their exclusive worldwide, royalty-bearing license, BullFrog AI holds the rights to commercialize prodrugs of mebendazole that demonstrate enhanced solubility and bioavailability.
This development significantly bolsters the protection of BullFrog AI’s meticulously curated and strategically acquired licensed product portfolio.
With mebendazole showing promise in cancer treatment, these N-substituted prodrugs exhibit substantially improved solubility and bioavailability, heightening their therapeutic potential and increasing the probability of successful clinical outcomes.
The company is eager to collaborate with strategic partners to capitalize on this valuable asset in treating glioblastoma and other oncology indications.
Moreover, BullFrog AI expanded its worldwide license agreement with the Johns Hopkins Applied Physics Laboratory (APL) in Laurel, Maryland.
This expansion enables the company to utilize patented technology to power its bfLEAP platform—an AI-driven system that analyzes drug development data, potentially expediting the availability of life-saving therapies and treatments for patients.
The patented technology from APL utilized in bfLEAP incorporates advanced analytical models, capable of interpreting large, complex, and diverse datasets, even in the presence of incomplete and mixed numerical and categorical data.
Notably, the technology offers explainable results and has demonstrated superior performance in benchmarking tests when detecting anomalies, patterns, and relationships, outperforming well-known algorithms.
BullFrog (BFRG) AI’s recent achievements and strategic partnerships have positioned the company for further advancements in the field of drug development and oncology treatments, fostering hope for groundbreaking medical breakthroughs.
