MARIETTA, Ohio--(BUSINESS WIRE)--

ProtoKinetix, Incorporated () (the "Company" or "ProtoKinetix") (OTCQB:PKTX) recently filed for patent protection for new applications of its AAGP® molecule.

During recent testing conducted by EyeCRO of Oklahoma City, using a well-established animal model for Dry Eye Disease (DED), and Ocular Inflammation it was observed that AAGP® may have a substantial effect on the suppression and control of the disease. Based on these results the company has filed for patent protection with the United States Patent and Trademark Office (USPTO) for the application of DED. The patent application was submitted for both human and veterinary uses.

Dry Eye Disease is one of the most common ocular problems with an estimated prevalence of almost 5-million people over the age of fifty in the United States alone. Current therapies for dry eye are palliative with a focus on the replacement of tears to reduce symptoms. Over-the-counter artificial tear formulations are available. Punctual palliative therapies are also available, and while they have benefits over the short term, they have limited utility in long-term control therapy for dry eye. Cyclosporine A is the first prescription product for dry eye therapy, which increases tear production in patients whose tear production is suppressed. However, Cyclosporine A treatment presents disadvantages over the long term which could potentially be mitigated by AAGP®.

By protecting this technology, the Company is in a better position to move forward with its research in ophthalmological therapies.

“Following the successful completion of recent testing of our AAGP® for dry eye disease, we need to ensure all our intellectual property is patented in order to protect its value.” - said Clarence E. Smith, president and chief executive officer.

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About ProtoKinetix, Incorporated

ProtoKinetix is a molecular biotechnology company that has developed and patented a family of hyper stable, potent glycopeptides (AAGP®) that enhance both engraftment and protection of transplanted cells, tissues and organs used in regenerative medicine. Due to the results achieved over the last four years of testing, the University of Alberta has begun Phase 1 human clinical trials. Additional studies will be expanded to include whole organ transplantation and all therapies that are being developed globally to date; diabetes, retinal degeneration, cardiac repair and many other degenerative conditions. In addition, we are studying the potential impact on several cancer therapies.

Cautionary Note Regarding Forward-Looking Statements

The information discussed in this press release includes “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933 (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”). All statements, other than statements of historical facts, included herein concerning, among other things, planned capital expenditures, future cash flows and borrowings, pursuit of potential acquisition opportunities, our financial position, business strategy and other plans and objectives for future operations, are forward looking statements. These forward looking statements are identified by their use of terms and phrases such as “may,” “expect,” “estimate,” “project,” “plan,” “believe,” “intend,” “achievable,” “anticipate,” “will,” “continue,” “potential,” “should,” “could,” and similar terms and phrases. Although we believe that the expectations reflected in these forward looking statements are reasonable, they do involve certain assumptions, risks and uncertainties and are not (and should not be considered to be) guarantees of future performance. Among these risks are those set forth in a Form 10-K filed on February 19, 2020. It is important that each person reviewing this release understand the significant risks attendant to the operations of ProtoKinetix. ProtoKinetix disclaims any obligation to update any forward-looking statement made here.

This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or with any securities regulatory authority of any state or other jurisdiction in the United States, and may not be offered or sold, directly or indirectly, except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act.

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