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. It's 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.
Let's take a closer look at the news driving the ASX 200 healthcare share higher today.
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ASX 200 healthcare share leaps on patent news
It's 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 – an immune checkpoint inhibitor (ICI) targeting PD-L1 – in patients with NSCLC.
The trial's 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:
It's 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 200's 7% gain.
Looking further back, the company's share price has tumbled 57% over the last 12 months. Meanwhile, the index has gained 2%.
