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S-1
VITAE PHARMACEUTICALS, INC filed this Form S-1 on 08/12/2014
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    LXRb—Acute Coronary Syndrome:  Our most advanced LXRb selective agonist compound for our ACS program, VTP-38443, is claimed in a published PCT application. The PCT application includes claims to VTP-38443 as a member of a class of related compounds and methods of using these compounds to treat various indications. The PCT application will allow for the worldwide pursuit of patents, including in the U.S., Europe, Japan, Canada, Australia, Brazil, China and India. Any patents that may issue from these applications will expire in March 2033, not including possible extensions due to patent office or regulatory delay.
    LXRb—Atopic Dermatitis:  Our selective agonist compound for our atopic dermatitis program, VTP-38543, is claimed in a published PCT application. The PCT application, includes claims to VTP-38543 as a member of a class of related compounds and methods of using these compounds to treat various indications, including atopic dermatitis. The PCT application will allow for the worldwide pursuit of patents, including in the U.S., Europe, Japan, Canada, Australia, Brazil, China and India. Any patents that may grant from these applications will expire in March 2033, not including possible extensions.

        The PCT is an international patent law treaty that provides a unified procedure for filing a single initial patent application to seek patent protection for an invention simultaneously in each of the member states. Although a PCT application is not itself examined and cannot issue as a patent, it allows the applicant to seek protection in any of the member states through applications to the national or regional patent offices of the individual countries in which the applicant wants to secure a patent, which are referred to as "national-phase" applications. Once the applicant enters the national phase, each national or regional patent office concerned begins the process of determining whether to grant a patent in the applicable country or region. Patents based on PCT national-stage applications are granted on a country-by-country basis. The grant of a patent from a PCT national-phase application in a particular member state does not provide any patent rights in any other PCT member state. However, with respect to regional offices under the PCT, such as the European Patent Office, once a patent has been granted by the regional office, the patent can be nationalized and made enforceable in each member country of the regional office without further examination.

        The term of individual patents depends upon the legal term for patents in the countries in which they are obtained. In most countries, including the U.S., the patent term is 20 years from the earliest filing date of a non-provisional patent application. In the U.S., a patent's term may be lengthened by patent term adjustment, which compensates a patentee for administrative delays by the USPTO in examining and granting a patent, or may be shortened if a patent is terminally disclaimed over an earlier filed patent. The term of a patent that covers a drug may also be eligible for patent term extension when FDA approval is granted, provided statutory and regulatory requirements are met. In the future, if and when our product candidates receive approval by the FDA or foreign regulatory authorities, we expect to apply for patent term extensions on issued patents covering those drugs, depending upon the length of the clinical trials for each product candidate and other factors. There can be no assurance that any of our pending patent applications will issue or that we will benefit from any patent term extension or favorable adjustment to the term of any of our patents.

        With respect to Contour, our proprietary structure-based drug discovery platform, we consider trade secrets and know-how to be our primary intellectual property.

Competition

        The biotechnology and pharmaceutical industries are characterized by rapidly advancing technologies, intense competition and a strong emphasis on proprietary products. While we believe that our technology, knowledge, experience and scientific resources provide us with competitive advantages, we face potential competition from many different sources, including major pharmaceutical, specialty pharmaceutical and biotechnology companies, academic institutions and governmental agencies and public and private research institutions.

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