The share price of AIM-listed specialist cancer drug discovery business Sareum Holdings jumped sharply on Thursday after the company announced that a patent was due to be awarded in the US for one of its key drug discovery inventions.
The patent, which is expected on February 19th, relates to compounds that inhibit or modulate the activity of kinase enzymes.
The granting of the patent means that Sareum has approved patent protection in the US for key elements of its KIL platform and many of its drug discovery programmes.
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SKIL is the acronym used to describe Sareum Kinase Inhibitor Library. It is the company's drug discovery technology platform.
Sareum's Chief Scientific Officer, Dr John Reader, said: "This first grant of a patent for Sareum significantly strengthens our patent portfolio, and enhances our negotiating position with potential licensing and collaboration partners."
Sareum's share price was up 13.70% to 2.08p at 08:39 on Thursday.
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