Soligenix shares soar thanks to new European patent

Shares of Soligenix Inc (NASDAQ:SGNX) soared Wednesday after the biopharmaceutical company clinched a new patent in Europe.

In a statement, the Princeton, New Jersey-based company said the European Patent Office has granted a patent entitled “Novel Peptides for Treating and Preventing Immune-Related Disorders, Including Treating and Preventing Infection by Modulating Innate Immunity.”

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In particular, the patent boosts intellectual property protection around the company’s lead innate defense regulator, dusquetide. Dusquetide (the active ingredient in its drug SGX942) modulates the response of the innate immune system in response to infection, tissue damage and inflammation.

Investors applauded the news, sending Soligenix shares up 9.7% to $1.13 in morning trade on Wednesday.

SGX 942 is currently being evaluated in a Phase 3 trial for the treatment of oral mucositis in patients with head and neck cancer.

The new patent corresponds to US patent 9,416,157 granted on August 16, 2016. It claims composition of matter of innate defense regulator (IDR) analogs and is valid until 2028.

“Soligenix continues to pursue broad patent coverage for dusquetide and its library of related IDR analogs, first with composition of matter claims followed by therapeutic use claims, such as in oral mucositis,” said Christopher J. Schaber, CEO of Soligenix in a statement.  

“The therapeutic use claims in oral mucositis will follow in the same jurisdictions, including the US where it has already been granted, and will provide extended intellectual property coverage.”

Contact Ellen Kelleher at [email protected]

Story by ProactiveInvestors