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Lobe Sciences, Ltd., (CSE: LOBE), and Alera Pharma (OTCQB LOBEF) announced that the United States Patent and Trademark Office issued U.S. Patent No. 12,102,616 entitled “Psilocin mucate”. Lobe Sciences has announced that it will assign to Alera Pharma the intellectual property rights related to this patent. Alera Pharma, Inc., a wholly-owned subsidiary of Lobe, was created last month.

In a press release, the company stated that the newly-issued patent covers claims for compositions of matter and methods of use as well as methods of production of psilocin. Lobe said that psilocin, a compound that is very unstable, has been difficult to develop into a pharmaceutical medicine. Conjugated Psilocin is a stable and highly bioavailable pharmaceutical component that could be developed into a prescription medicine to treat a variety neurological disorders.

Mr. Rick Goulburn, Alera Pharma, Inc. CEO, stated, “We’re excited to receive this foundational patent on Conjugated Psilocin, which recognizes the unique qualities of this psilocin analog invention. Companies that are trying to develop new treatments have relied on the prodrug, psilocybin, which is converted in the gut, resulting in poor bioavailability and uptake. With Conjugated Psilocin we have a stable and orally available psilocin which is rapidly and completely bioavailable. We believe that, as a result of this, we can create a prescription oral medication that can precisely be dosed and developed to treat a variety neurological disorders.”

The company informed investors that it has also filed additional patent applications in order to broaden its base of claims. The company has also filed with the USPTO for international coverage.

Dr. Fred Sancilio also commented: “We are excited about this patent and the unique opportunity it provides to develop a stable and oral psilocin.” We are aware of the urgent need for this medication among patients with Chronic Cluster Headache and are eager to move the product through the FDA approval procedure as quickly as possible. This new and exciting drug candidate is not only intended to treat Chronic Cluster Headaches. Its potential use in treating other disorders currently being studied through clinical trials using psilocybin is also on our radar.

The patent will remain valid until July 2043, provided that the patent maintenance fee is paid in the third, seventh, and eleventh year following grant.

In June, the company Close a convertible note With two major partners, Clearway Global, LLC, and Quality Chemical Laboratories, Inc., to fund $500,000.00 as a bridge to a larger round of funding anticipated towards the end or early 2025. The company informed investors that the note will be funded in two tranches. The first will be used to eliminate critical account payables and the second to fund legal and financial costs associated with strategic options.