The share price of S&P/ASX 200 Index (ASX: XJO) biopharmaceutical developer Imugene Limited (ASX: IMU) is soaring on Friday after the company announced a new United States patent.
The patent relates to its B-cell activating immunotherapy PD1-Vaxx. Itâs currently in development for non-small cell lung cancer (NSCLC).
Right now, the Imugene share price is trading at 14.2 cents, marking a 5.19% gain.
Letâs take a closer look at the news driving the ASX 200 healthcare share higher today.
ASX 200 healthcare share leaps on patent news
Itâs shaping up to be a good day for the Imugene share price after the company announced another patent.
This time, it has patented the PD1-Vaxx and its method of treatment in cancer to 2038.
The company is finalising preparations for a clinical trial in which PD1-Vaxx will be combined with atezolizumab Ââ an immune checkpoint inhibitor (ICI) targeting PD-L1 â in patients with NSCLC.
The trialâs objectives are to determine the safety, efficacy, and optimal dose of PD1-Vaxx in combination with atezolizumab as either first-line therapy in ICI treatment-naïve NSCLC patients or ICI pre-treated patients. The study will be conducted in both the United States and Australia.
Commenting on the news driving the Imugene share price higher today, managing director and CEO Leslie Chong said:
Itâs vital to our business that we continue locking in intellectual property protection across the portfolio of assets, and I am proud to continue to strengthen our intellectual property.
With the United States being the largest healthcare market in the world, this is a particularly important patent to protect our PD1-Vaxx technology as we continue its development.
Imugene share price snapshot
Sadly, the Imugene share price has been underperforming in recent months.
The stock has lifted just 1% since the start of 2023, compared to the ASX 200âs 7% gain.
Looking further back, the company’s share price has tumbled 57% over the last 12 months. Meanwhile, the index has gained 2%.
The post Guess which ASX 200 healthcare share is surging 5% on a new US patent? appeared first on The Motley Fool Australia.
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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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