14th Jun 2021 10:33
(Alliance News) - Faron Pharmaceuticals Oy on Monday said it has been granted a new US patent for its cancer immunotherapy drug candidate bexmarilimab.
The Turku, Finland-based drug discovery and development company said the US Patent & Trademark Office will issue the patent on June 29. The patent will protect the "composition of matter of bexmarilimab" and is expected to expire in 2037.
The same patent has been granted in Japan and applications are under review in other territories including Europe and China, Faron said.
Faron shares were trading 8.2% higher in London at 397.80 pence each on Monday following the announcement.
Bexmarilimab targets a receptor in the body known as Clever-1, believed to be key to forming an immune defence against tumour growth and spread. It is currently being trialled as a potential therapy for patients with solid tumours who have exhausted all treatment options.
Faron Chief Executive Markku Jalkanen said: "We are extremely pleased to receive this key patent approval which grants us market exclusivity up to 2037.
"The patent is a welcome addition to our existing global intellectual property portfolio for targeting Clever-1 and further strengthens the long-term potential of this next-generation macrophage reprogramming immunotherapy."
By Will Paige; [email protected]
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