Lobe Sciences Ltd (CSE:LOBE, OTCQB:LOBED) announced that it has expanded its patent portfolio through the filing of international patents in Canada, the United States, Europe and Australia.
The filings are for methods, compositions and devices for treating mild traumatic brain injury, post-traumatic stress disorder and mild traumatic brain injury with post-traumatic stress disorder.
"This important step is a significant demonstration of our capabilities, particularly as we expand our footprint globally through conducting controlled clinical trials with our patent-pending compound and expanding our patent portfolio internationally,” CEO Philip J. Young said in a statement.
READ: Lobe Sciences incorporates Australian subsidiary to facilitate clinical trials for psilocin analogues with partner iNGENū
Resignation
The company also said that on October 3, 2022, Jonathan Gilbert resigned as executive chairman of the board of directors, effective immediately. The company agreed to issue to Gilbert an aggregate of 5,300,836 common shares. The shares will be subject to a statutory hold period of four months and one day from the date of issuance and are subject to escrow restrictions.
"We are thankful to have had Jon as our Founder and Chairman for the last several years and wish him well in his new endeavours. Our team of highly successful biotech executives will drive the implementation of our clinical, development and regulatory strategies outlined previously, and I look forward to providing ongoing updates of our progress," Young said.
"As the founder of Lobe's predecessor company, Eleusian Biosciences Corp., it is very rewarding to see the progress we have made advancing the development of our proprietary compounds. I am confident that the team is on the right track and are the right people to execute our plans. I look forward to being a long-term shareholder as we track the success of the company moving forward," said Gilbert.
Additionally, also on October 3, 2022, the company and an arm's length independent consultant entered into a separate mutual separation agreement.
Lobe Sciences is a life sciences company focused on psychedelic medicines. The company, through collaborations with industry-leading partners, is engaged in drug research and development using psychedelic compounds and the development of innovative devices and delivery mechanisms to improve mental health and wellness.
Contact the author at jon.hopkins@proactiveinvestors.com