Prolor Biotech Inc. (AMEX: PBTH; TASE: PBTH) has received a notice of allowance from the US Patent and Trademark Office for a new patent application covering the company's long-acting CTP-enhanced human growth hormone (hGH-CTP). The new patent is due to be issued in a few months, giving the company additional intellectual property protection covering methods for the induction of growth in growth hormone deficient patients.
The new patent is the fourth hGH-CTP patent allowed by the US Patent Office. The expanding hGH-CTP patent estate should provide additional protection for Prolor's hGH-CTP compound, in addition to a number of CTP platform patents that have already issued.
"Upon issuance, this new hGH-CTP patent will be a significant addition to PROLOR's intellectual property portfolio," said Prolor president Shai Novik. "We have several other CTP-related patent applications that are currently pending, and we believe that this growing patent portfolio will reinforce our existing patent estate for our CTP-enhanced compounds in development, as well as for our CTP platform technology generally."
Prolor reported success in its Phase II clinical trial of its long-acting growth hormone in adults, which found that a single weekly injection of the hormone was as effective and safe as the standard daily injections over the same period. The company is enrolling patients for a Phase II clinical trial of the product in children.
Prolor's share price rose 6.6% on the TASE today, following the announcement to NIS 21.21, after rising 0.8% on the American Stock Exchange yesterday to $5.06, giving a market cap of $321 million.
Published by Globes [online], Israel business news - www.globes-online.com - on October 3, 2012
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