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Neurizon (ASX:NUZ) has officially snagged a U.S. patent for its neurodegenerative disease and cancer drug candidate NUZ-001, designated orphan status by the FDA last year.
The microcap stock jumped +12% to 14cps in early trades, per Cboe live pricing data.
The State-side move ultimately firms up Neurizon’s Intellectual Property (IP) portfolio and assists the company in commercialising NUZ-001 down the line should it continue to pass approval hurdles.
To that end, also included in the patent are “structurally related compounds.”
Licensing negotiations would also be emboldened by the presence of a patent, the company wrote on Wednesday.
The patent is a ‘method of use’ patent; NUZ-001 is primarily targeting amyotrophic lateral sclerosis (ALS) and motor neurone disease (MND) at this time.
“This comes at a critical juncture for the Company, as we ramp up our product commercialisation strategy in the US,” Neurizon CEO Dr. Michael Thurn said.
“We are confident obtaining this US patent protection significantly strengthens our market positioning and provides a strong framework for future licensing negotiations… the patent application is still under review in all other major regulatory jurisdictions worldwide.
“We look forward to reporting additional grants in the near future.”
NUZ last traded at 14cps.
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