Published on: Feb 1, 2017 | by Trevor Hoey
Cellmid (ASX:CDY) announced on Tuesday that the US Patent and Trademark Office had issued Notice of Allowance for the patent application number 14/464,358 entitled “Method of Treatment or Prevention of Hair Loss or for Enhancement of Hair Growth” (midkine or MK alopecia patent).
This development was well received by investors with the company’s shares rallying more than 7% in the first half hour of trading and maintaining that level well into the afternoon.
The midkine (MK) alopecia patent will expire in February 2031 and it adds to the significant intellectual property rights of Advangen Limited, Cellmid’s wholly owned subsidiary engaged in the commercialisation of hair loss technologies. Other Advangen patents relate to the evolis® products that act through the inhibition of the FGF5 protein to prevent hair loss and increase hair growth.
As a backdrop, Cellmid is an Australian life sciences company with prominent programs in multiple disease indications, and through its wholly-owned subsidiaries the company develops and markets innovative novel therapies and diagnostic tests for fibrotic diseases, cancer, ischaemic diseases of the heart and hair loss.
Yet being a speculative stock, there is no surety of future success and investors should seek professional financial advice for further consideration.
Cellmid has most comprehensive global portfolio of midkine and FGF5 IP
Importantly, the group holds the largest and most comprehensive portfolio of intellectual property relating to the unique targets midkine (MK) and FGF5 globally, IP that is being exploited through wholly-owned subsidiaries Lyramid and Kinera.
Cellmid’s total patent portfolio, commercialised by three of its wholly owned subsidiaries, currently comprises 75 patents and applications in 16 patent families including patents covering the use of MK and anti-MK agents for therapeutic purposes in a number of diseases such as cancer, inflammatory conditions and autoimmune diseases.
Advangen, Cellmid’s consumer health business sells its FGF5 inhibitor hair growth products in Australia and Japan.
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