Graft Polymer PLC (LSE:GPL), a company focused on the development of plastic modifiers and drug delivery systems, said it expects to win more orders this year from companies undertaking trials of its products, over which it has recently secured more patent protection.
A patent on a core technology included in its proprietary drug delivery system was accepted by the Russian and the Slovenian intellectual property offices, meaning the UK- and Slovenia-based company now has five patent applications awaiting award.
A second patent, covering the “super-saturable self-nano emulsifying drug delivery system”, was awarded, although it did not specify where.
"We are very pleased to progress the status of patent P-2021106347 and look forward to adding more patents to our growing IP portfolio,” said chief executive Victor Bolduev.
With its products involved in “successful and exciting trials” with several companies in 2021 and with some ongoing, Graft Polymer said it expects the number of orders expected to increase over the next two years.
It anticipates these trials will either lead to the next stage of development and possibly partnerships with the companies involved.
The company also said it has made “strong strategic progress” on key aims, including reducing manufacturing costs and opening a "Hot Ozone/Plasma” modification to enable production of fluoropolymers and polymeric ozonides.
Shares in Graft Polymer remained steady, changing hands at 21p in midday trading.