Patrys gets first Australian patent for PAT-LM1

Patrys (ASX:PAB) has been granted its first Australian patent for anticancer product PAT-LM1.

The patent covers the use of PAT-LM1 or binding fragments of the antibody for the treatment of metastasis in cancers including brain, breast, stomach and liver cancer.

It is the first of a series of patent applications submitted to cover PAT-LM1 to be granted approval in Australia.

Patrys now has four patents covering the product in the US, New Zealand and Australia, and additional applications pending in Europe, Canada, Japan and the US.

“This new patent strengthens and enhances the current intellectual property position for PAT-LM1. We look forward to updating the market on the development with this program.”

Patrys commenced clinical development of PAT-LM1 in March, following strong results in lab tests for blood cancers including leukaemias and lymphomas.

In September, the company announced it had completed the process development for PAT-LM1 and is moving into the scale-up portion of the manufacturing plan. The company is still selecting a clinical target based on factors including an unmet medical need or an orphan indication.

Patrys (ASX:PAB) shares were trading 16.67% higher at $0.021 as of around 1 pm on Tuesday.