(Alliance News) - N4 Pharma PLC on Tuesday saw its shares rise, as it celebrated a patent grant for Nuvec in the US.
N4 is a Derbyshire, England-based pharmaceutical company focused on the development of a novel silica nanoparticle delivery system, known as Nuvec, for vaccines and therapeutics for licensing to pharmaceutical and biotech partners.
Shares in the company jumped 40% to 2.10 pence in London on Tuesday morning.
The University of Queensland, from which N4 Pharma has licenced the exclusive rights to Nuvec, said it has been informed that a further patent application for Nuvec in the US has been granted.
The patent is for the composition of matter of the nanoparticle itself. It sits alongside the first US patent grant announced last January, which concerned how the nanoparticle is made using a broad description of the manufacturing process used by the company.
N4 also said that Non-Executive Chair John Chiplin has retired from his role for personal reasons. Chris Britten, a current non-executive director, will assume the role from August 1.
"We are delighted to receive notification of this further patent grant for our licensed patent in this critical and influential market. The granting of this patent now means the patents in the US are on equal terms to those granted in other territories for both the particle itself and how it is made," said Chief Executive Officer Nigel Theobald.
By Holly Beveridge, Alliance News reporter
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N4 Pharma Plc (N4P)