(Alliance News) - Byotrol PLC shares jumped on Thursday, after it said it has won a UK patent for novel anti-viral seaweed extract.
Shares in the Chester, England-based developer of antimicrobial technologies and products were up 9.7% to 2.08 pence each in London on Thursday morning. Over the last twelve months, the stock is down 18%.
Byotrol said it has received approval for a UK patent, following "its discovery of unique anti-viral properties of certain enhanced extracts of commonly available brown seaweed."
It noted that the grant of the patent application gives the company validated, valuable and protected intellectual property, to support the development of commercial relationships.
In the UK and Europe, seaweed extracts are not as yet approved as active materials for biocidal products. Therefore, Byortol said it is now actively exploring alternative applications in very sizeable markets such as over-the-counter products for the prophylactic treatment of viral conditions including colds, flu, coronaviruses and cold sores.
Chair Trevor Francis said: "We are delighted to have secured the first patent for our seaweed-based anti-viral technologies. It is another good indication of the quality of our technical capability, and it will most certainly help us as we intensify the search for commercial partners. It also adds to our already significant level of intellectual property in antimicrobials."
By Sophie Rose, Alliance News reporter
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Byotrol (BYOT)