Poolbeg Pharma PLC (AIM:POLB), the biopharmaceutical company focused on cancer immunotherapy, said it had been granted a patent in South Africa for its lead drug candidate, POLB 001.
The patent covers the use of POLB 001 in preventing severe influenza and hypercytokinaemia, an excessive immune response also known as a cytokine storm, and runs until December 2038.
POLB 001 is a p38 MAP kinase inhibitor, a type of drug that blocks an enzyme involved in inflammation.
The company is developing it across several disease areas, including the prevention of cytokine release syndrome, a serious side effect that can be triggered by cancer immunotherapy treatments.
Poolbeg said the grant added to an existing portfolio of patents covering its drug candidate and that further applications had been filed, particularly relating to cancer immunotherapy-induced cytokine release syndrome.
The company described building its intellectual property position as a key priority intended to increase the drug's value and appeal to potential commercial partners.
Chief executive Jeremy Skillington said the latest grant reflected the company's commitment to strengthening the global patent position for POLB 001 and enhancing its attractiveness to prospective partners.
Broker Cavendish said: "The grant further strengthens Poolbeg’s growing intellectual property portfolio around POLB 001 and follows recent patent progress across multiple jurisdictions, reinforcing the company’s strategy of building broad global protection around the asset."
The shares rose 3% to 7p. Cavendish holds a 19p price target.
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