Conduit Pharmaceuticals Inc. announced the approval of a composition of matter patent application by IP Australia, achieving successful examination of a patent on its lead asset, an HK-4 Glucokinase Activator which targets a wide range of autoimmune diseases. The Company is enrolled to participate in the Patent Proposal Highway (PPH), a program to fast-track patent examination in major jurisdictions including the U.S., Europe and Japan. Patients in these major countries are the most sought after and valuable patents for marketed drug products, providing up to 20 years of patent protection.

Through innovative solid-form technology, Conduit's R&D team identified cocrystals of its lead asset, AZD1656, a HK-4 Glucokinases Activator which offers promising solutions across a broad range of autoimmune conditions. Cocrystal patents are classified as "drug substance" patents in the U.S. Food and Drug Administration's (FDA) Orange Book. The patents not only enhance Conduit's Intellectual Property assets but also serve to maximize the Company's potential for future out-licensing opportunities, reinforcing the strategic value of cocrystal patents in the pharmaceutical landscape.