31st May 2024 11:01
(Alliance News) - Shares in Graft Polymer (UK) PLC rose on Friday, as the company announced the filing of a patent for its proprietary technology, which it said addresses a significant unmet need in the treatment of mental health disorders.
Graft Polymer is a London-based developer and producer of alloyed polymers, biological supplements and drug delivery systems. Shares in the company were up 30% at 1.20 pence each in London on Friday morning.
Graft Polymer has filed a second utility patent application with the US Patent & Trademark office for its proprietary self-nanoemulsifying drug delivery systems - SNEDDS - platform.
The patent covers the platform's use in the delivery of drugs for the treatment of mental health disorders, including generalised anxiety disorder, major depressive disorder and PTSD.
The company said SNEDDS can "enhance the bioavailability, pharmacokinetics and stability of therapeutics" for the above conditions.
Graft Polymer said that existing treatments for GAD, MDD and PTSD often have poor solubility, leading to suboptimal drug delivery, and added that its own "advanced biopolymer expertise" will help address this unmet clinical need.
Chief Executive Officer Anthony Tennyson said: "We are delighted to announce further progress in leveraging our existing biopolymer intellectual property for additional important healthcare applications with substantial unmet medical needs."
The patent application follows a separate filing for the use of SNEDDS in the treatment of substance use disorders.
By Hugh Cameron, Alliance News reporter
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