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Wednesday, 21 November 2012
Medgenics shares rise on US patent news
Biopump developer Medgenics (LON:MEDG) shares were lifted in London after it won a patent from the US authorities to protect the technology associated with the device.
The US Patent and Trademark Office (USPTO) issued the patent for the firm's EPODURE Biopump technology for delivery of erythropoietin for the treatment of anaemia - a multi-billion dollar market, it said.
The pump allows the sustained production of therapeutic proteins and uses the patients' own skin biopsy.
Medgenics' chief executive and president Andrew Pearlman told investors: "As we continue to progress in our clinical trials and move forward in our business development efforts, the protection of our intellectual property becomes critical."
The USPTO also allowed claims covering a similar method for delivery for the firm's HEMODURE biopump for treating haemophilia, the company also revealed in the statement.
Medgenics' total global portfolio now includes 36 patents issued with a further 81 pending, it said.
Shares rose 4.40%, to change hands at 475 pence each.