(Alliance News) - Shares in Sareum Holdings PLC rose on Thursday after announcing that the US Patent & Trademark Office has formally approved its patent application for an invention associated with its SDC-1802 TYK2/JAK1 kinase inhibitor programme.
Shares in the Cambridge-based drug development firm were 18% higher at 2.58 pence on Thursday in London.
Following the grant of patent US 10,882,829, Sareum now has patent protection for the SDC-1802 molecule and pharmaceutical preparations in the US and across major territories in Europe, Japan and China.
"The granting of this patent in the US completes the protection of the intellectual property for our proprietary SDC-1802 Programme across all major markets. The board believes that the patent will enhance the value of its TYK2/JAK1 inhibitor programmes and the company's negotiating position as it continues to engage in discussions with potential licence partners," said Chief Scientific Officer John Reader.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Sareum (SAR)