Imugene Ltd (ASX:IMU) (OTCMKTS:IUGNF) has received a Notice of Grant from the United States Patent and Trademark Office for Patent Application 16/292032, which protects its cancer growth factor immunotherapy platform.
The patent titled 'HER-1, HER-3 and IGF-1R composition and uses thereof' protects the method of composition and method of use of Imugene’s Ohio State University licensed vaccines from the laboratory of Professor Pravin Kaumaya.
Investors have responded positively with shares as much as 10% higher in early ASX trade to A$0.056.
The clinical-stage immuno-oncology company has a market cap of approximately A$223.7 million and shares are up from A$0.045 at market close on September 23.
“Important milestone”
Managing director and CEO Leslie Chong said: “Attaining the key US patent is an important milestone.
“This adds extra value to Imugene’s portfolio of B-cell immunotherapies and this will protect them in the world’s largest pharmaceutical market until 2035.”
Need for effective treatment
Despite the promise of targeted therapies, there remains an urgent need for effective treatment for cancers such as esophageal cancer (EC) and triple-negative breast cancer (TNBC).
Current FDA-approved drugs have ‘significant’ problems of toxicity, safety, selectivity, efficacy and development of resistance.
The promising results protected in the patent support the rationale for dual targeting with HER-1, HER-2 and HER-3 or IGF-1R as an improved treatment regimen for advanced therapy tailored to difference types of cancer.
Strengthened leadership team
Imugene recently bolstered its executive leadership team through the appointment of Dr Rita Laeufle as chief medical officer.
Laeufle will lead the global clinical development, regulatory and medical monitoring activities, replacing Dr Mark Marino who is stepping down from his position.
As a board-certified surgical oncologist, Laeufle has extensive clinical development experience in immune-oncology studies from phase-1 to phase-3 in breast and gastrointestinal cancers.