LONDON (Alliance News) - Shield Therapeutics PLC on Monday said Israeli pharmaceutical company Teva Pharmaceutical Industries Ltd has filed a notice of appeal on a decision regarding a Shield patent.
Shares in commercial stage pharma company Shield were down 5.3% at 108.00 pence in morning trade.
In January, Shield announced that a third party had raised objections with the European Patent Office over Shield patents 2 668 175 and 3 160 951 covering a "process for preparing an iron hydroxypyrone". This process is used in the creation of Shield's lead asset, iron deficiency drug Feraccru.
Then, in March, it was announced that the European Patent Office had decided in favour of Shield over patent 2 668 175. Teva has appealed this decision, with no hearing date set so far.
"Shield will continue to robustly defend its intellectual property and believes the board of appeal should uphold the first instance decision of the European Patent Office," said Shield.
"Shield will provide further updates to shareholders on proceedings as required," the company added.
Shield Thera (STX)