‘In addition to our co-development partnership with Teva, this European patent award further validates the commercial potential of RX-3117,’ said Dr Chang Ahn, Rexahn's Chairman and Chief Executive Officer. ‘The development of RX-3117 strengthens our oncology pipeline, which includes ArchexinTM, currently in Phase II clinical trials.’

RX-3117 is a small-molecule, new chemical entity, nucleoside compound that inhibits DNA methyltransferase, a cyclin-dependent kinase, and DNA synthesis. Potential indications of RX-3117 are solid tumours including colon, lung and pancreatic cancers. In preclinical trials, RX-3117 has demonstrated its ability to overcome cancer drug resistance in cancer cells – in particular, gemcitabine resistance in the human lung cancer cell. The US patent issued for RX-3117 claims composition of matter, synthesis, and methods (2008).

In September 2009, Rexahn – a clinical-stage pharmaceutical company commercializing oncology and central nervous system therapeutics – announced a commercialization and development agreement with Teva for RX-3117. Under the agreement, Rexahn will be eligible to receive additional development, regulatory and sales milestone payments and royalties on net sales worldwide.