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Prospector
Profile
3-10-002
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| DOV Pharmaceutical, Inc. |
NAICS |
325412 |
| Continental Plaza, 433 Hackensack Ave.,
Hackensack, NJ 07601 |
Description |
Pharmaceuticals Mfg. |
| (201) 968-0980 |
Employees |
41 |
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Revenue |
(mil) |
25.9500 |
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Income |
(mil) |
-38.3700 |
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Assets |
(mil) |
50.3600 |
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Liability |
(mil) |
80.0000 |
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(for the year ended 2006-12-31) |
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Category:
IP Asset Sale
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Event:
DOV Pharmaceutical, Inc., disclosed in a regulatory filing dated March 4, 2008, that it agreed to sell to private investors a fractional interest in future royalties otherwise payable to the Company under its license agreement with XTL Biopharmaceuticals, Inc. Under the agreement, the Company has assigned its right to receive an amount equal to four and one-half percent (4.5%) of net sales of
bicifadine up to $350.0 million in any calendar year for a period of nine years. The purchase price for the assignment is $1.6 million. The
agreement is expected to close within 30 to 60 days, subject to certain customary closing conditions.
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Intellectual Property:
The Company owns 12 issued U.S. patents that are in force as of December 31, 2006. In 2006, a U.S. patent was awarded to DOV covering a novel polymorphic form of bicifadine. In 2002, 2003 and 2005, the Company filed U.S. patent applications claiming novel sustained release formulations of bicifadine, methods for sustained release delivery of bicifadine to treat pain, and therapeutic methods employing bicifadine to treat chronic pain. In 2005, the Company filed a U.S. provisional application directed to therapeutic uses, compositions and methods employing bicifadine to treat neuropathic disorders, including neuropathic pain. Also in 2005, it filed two U.S. provisional applications directed to novel synthetic methods and intermediates for the production of bicifadine and related compounds, and these applications were consolidated and perfected in 2006 as U.S. regular utility and PCT patent applications. In 2004, the Company filed a U.S. provisional patent application directed to the use of bicifadine for controlling fever and menopausal symptoms, including hot flashes. In 2005, the Company filed a U.S. provisional patent application directed to therapeutic uses, compositions and methods employing bicifadine to treat urological disorders, including urinary incontinence. DOV also retains U.S. patent rights protecting the use of bicifadine and DOV 216,303 for the treatment of addictive disorders through December 2018. In 2006, the Company filed a U.S. provisional patent application directed to novel salts and co-crystals of pyrazolopyrimidines, including indiplon and ocinaplon, which patent application also presents claims to methods and compositions for producing salts and co-crystals of pyrazolopyrimidines. In April 2002,
a U.S. patent was issued claiming the composition of matter, use and
methods of treatment and manufacture for DOV 21,947, a triple uptake inhibitor under development for the treatment of depression. Between 2003 and 2006, five patents have issued covering the composition of matter, uses and methods of manufacture of DOV 102,677, its candidate for the treatment of indications including alcohol abuse, alcoholism, Parkinson's disease, restless leg syndrome, and attention deficit disorder. [SEC Filing 10-K 03-30-07]
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Description:
DOV Pharmaceutical, Inc., is focused on the discovery, in-licensing, development and commercialization of novel drug candidates for central nervous system, cardiovascular and neurological disorders.
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Officers:
Arnold S. Lippa (Chair); Barbara G. Duncan (CEO, Treas. & Dir.); Warren Stern (SVP); Zola Horovitz (Dir.); Patrick Ashe (Dir.); Daniel S. Van Riper (Dir.); Theresa A. Bischoff (Dir.); Dennis G. Podlesak (Dir.)
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Auditor:
PricewaterhouseCoopers LLP
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Securities:
Common Stock-Symbol DOVP.OB; OTC BB;
110,753,889 common shares outstanding as of November 6, 2007.
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