Shares in Fremantle company Solbec Pharmaceuticals Ltd have soared on news it has been awarded a US patent it considers a strong indicator of further IP portfolio growth.
Shares in Fremantle company Solbec Pharmaceuticals Ltd have soared on news it has been awarded a US patent it considers a strong indicator of further IP portfolio growth.
Solbec shares added over 31 per cent in afternoon trade to 10.5 cents, before easing to close out the week at 9.1 cents.
The award follows another US patent win this week for Perth-based QPSX, which saw its share price more than double.
The patent grant comes on the back of the recent award of a $2.26 million AusIndustry Commercial Ready Grant for Solbec.
Further information can be found in a statement from the company below.
13 January 2006: Solbec Pharmaceuticals Ltd (ASX:SBP) advises that the United States Patent and Trademark Office (USPTO) has granted Solbec's patent entitled: "Method for the separation of triglycoalkaloids" US patent number 6,984,725. The term of the patent runs until 12 June 2023. This patent gives Solbec the right to prevent others from applying Solbec's simple and unique manufacturing process to separate Coramsine's®triglycoalkaloid components. The extraction process is such that Solbec is able to isolate Coramsine's®precursor triglycoalkaloid compounds in purified form and then re-blend them together in any desired ratio. In the case of Coramsine®the ratio of these precursor compounds is a 1:1 mix. The granting of this patent in the United States represents another important addition to the Company's Intellectual Property portfolio; and a strong indicator that patent protection will be successfully secured in other jurisdictions where applications are currently pending. In regard to the IP landscape surrounding Coramsine®, Solbec has exclusive access to two foundation patents owned by the original developer of Coramsine's®precursor compound BEC®; and six subsequent patent families have been filed and are owned by Solbec. Within these six patent families there exist thirty five patents in total, with eleven patents granted and twenty four patents pending worldwide.
About Solbec
Solbec Pharmaceuticals Ltd identifies naturally-occurring compounds with potential in the development of better therapies for debilitating conditions and life-threatening diseases. The company is currently progressing its key project, Coramsine®, through Phase I/IIA clinical trials for the treatment of advanced solid tumours, and as a topical treatment for psoriasis.
The two proprietary ingredients of Coramsine®were isolated from the fruit of a weed known as the Devil's Apple (Solanum linnaeanum). They show activity against some cancers and cause potentially therapeutic changes to the immune system. In addition to human health, Coramsine®has potential application to animal health and diagnostics. Solbec's business strategy is to partner or out-license Coramsine®for the final stages of pre-commercial development and marketing.
