This has just been released on news.com.au , I wish our shares were at $4.30!!!!
AUSTRALIAN drug producer Prima BioMed has been granted a US patent for its ovarian cancer therapy.
THE company, which already holds patents for the treatment, CVac, in Australia, Japan, Canada and Europe, will hold its US patent until 2022.
The immunocellular treatment, currently in phase two of clinical trials, recently had its approval process fast tracked by the US Food and Drug Administration because of its potential to meet an unmet medical need.
Prima chief executive Marc Voigt said the patent could give the company more control over CVac's commercial development.
"The patent term can potentially be further extended by up to five years if CVac receives market approval before it expires, which would provide the company with essential protection over its commercial development well into the future," he said in a statement.
There is no timeline for approval but Prima has flagged pilot trials for other cancer types.
The company's shares were up 7.5 per cent to $4.30 shortly before 1430 (AEST) on Wednesday.
PRR Price at posting:
4.3¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)