DOYLESTOWN, Pa., Sept. 3 /PRNewswire-FirstCall/ -- The Quigley Corporation (NASDAQ: QGLY) today announced that its Patent Application for the "Method and Composition for the Topical Treatment of Diabetic Neuropathy" has been filed in the European and other foreign markets, and in the United States under Patent Application Number 20020115618. The patent abstract contains the rationale for this all-natural formulation, which is believed to provide significant, effective relief of the symptoms of diabetic neuropathy.
A Proof of Concept clinical study of the QR333 formulation is currently underway in France under the direction of Professor Paul Valensi, M.D. Upon successful completion of this Phase II study, the Company will immediately proceed to the next level of clinical development.
According to the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK), diabetes afflicts approximately 17 million people in the United States. Diabetic neuropathy is suffered by up to 70% of the estimated diabetics in the United States alone, with no effective treatment currently available.
Guy J. Quigley, Chairman, President and Chief Executive Officer of The Quigley Corporation, stated: "We have designed our Quigley Pharma subsidiary specifically to develop innovative, safe and effective treatments for a wide variety of illnesses and medical conditions, which are either ignored or not effectively addressed by the large pharmaceutical companies. We believe that this patent filing puts us in the forefront of the effort to alleviate the suffering of millions of diabetic neuropathy patients."
The Quigley Corporation (NASDAQ: QGLY) is a leading developer and marketer of diversified health products including the Cold-Eeze(R) family of patented zinc gluconate glycine (ZIGG(TM)) lozenges, gums and sugar free tablets. Cold-Eeze is the only (ZIGG(TM)) lozenge proven in two double-blind studies to reduce the duration of the common cold from 7.6 to 4.4 days or by 42%. In addition to Over-The-Counter (OTC) products, the Company has formed Quigley Pharma Inc. (http://www.quigleypharma.com/), a wholly owned ethical pharmaceutical subsidiary, to introduce a line of patented prescription drugs. The Quigley Corporation's customers include leading national wholesalers and distributors, as well as independent and chain food, drug and mass merchandise stores and pharmacies.
No claims are being made for the potential medicine discussed in this press release to be safe, effective, or approved by the Federal Food and Drug Administration (FDA).
Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve known and unknown risk, uncertainties and other factors that may cause the Company's actual performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking statement. Factors that impact such forward-looking statements include, among others, changes in worldwide general economic conditions, changes in interest rates, government regulations, and worldwide competition.