N4 Pharma PLC (AIM:N4P) shares leapt 29% higher to 1.93p, up from a recent six-year low, on news of a new US patent and a change of chairman.
Nuvec, the novel delivery system for cancer treatments and vaccines, has been granted a further patent application in the US.
It covers the composition of matter of the nanoparticle itself and is added to a first US patent granted in January 2022, which was concerned with the manufacturing of the nanoparticle, which has been licensed exclusively by the company from the University of Queensland.
“The granting of this patent now means the patents in the US are on equal terms to those granted in other territories for both the particle itself and how it is made,” said chief executive Nigel Theobald.
N4 also said current non-executive chair John Chiplin is “retiring from the board for personal reasons” and will be replaced by non-executive director Chris Britten from the start of next month.