University of Alberta Assigns Full Suite of Patents to 48Hour Discovery as Revenue Exceeds $5 Million Triggering Key Milestone
[Edmonton, Alberta] November 21, 2023 – An Edmonton-based biotechnology company leading the discovery of novel peptide therapeutics, 48Hour Discovery, has achieved a significant milestone by reaching $5 million in total revenue since its inception in 2017. This accomplishment triggered the assignment of the full suite of patents protecting 48Hour Discovery’s innovative phage display platform. These patents stem from the research of University of Alberta Professor Dr. Ratmir Derda, the founding CEO of 48Hour Discovery. The patents empower 48Hour Discovery to harness their chemically modified phage display technology to its fullest potential and drive further commercialization opportunities for the company.
“We’ve had the privilege of working with many of the Top 10 Global Pharmaceutical companies and numerous prominent biotech leaders since our establishment,” said Dr. Ratmir Derda, Founder and now CSO of 48Hour Discovery. “This milestone and the patent assignment signify a tremendous achievement for our team, strengthening our resolve to make a significant impact on the biotechnology industry.”
The assignment of these patents provides 48Hour Discovery with a powerful competitive advantage, enabling the company to attract capital and continue its growth. The unique technology at the core of 48Hour Discovery’s innovative phage display platform provides discovery solutions to the pharmaceutical industry, and is further driving innovation in oncology drug development as well as other therapeutics categories.
"This milestone and the patent assignment signify a tremendous achievement for our team, strengthening our resolve to make a significant impact on the biotechnology industry"
As the company celebrates this pivotal moment, 48Hour Discovery anticipates a future where the technology they have developed will reshape the landscape of biotechnology discovery. With the newfound ability to protect their intellectual property and secure vital partnerships, 48Hour Discovery is poised for even greater accomplishments in the field.
About 48Hour Discovery
48Hour Discovery is a dynamic peptide discovery platform that has revolutionized drug discovery through its innovative approaches to peptide design. Leveraging cutting-edge technologies, the platform accelerates the identification and optimization of peptides with therapeutic potential, offering a novel pathway to addressing unmet medical needs. Established in 2017, the company has validated its technology platform securing partnerships with over 20 companies including global pharma and leaders in the radiopharmaceutical industry. For more information, visit www.48hourdiscovery.com
