By Ben Glickman
Shares of Brainstorm Cell Therapeutics were higher Tuesday after the company secured a patent for its technology used for treating ALS.
The stock was up 11% at 22 cents in midday trading. Shares are down 86% this year.
The New York-based biotechnology company said the European patent office had granted a patent on the company’s method of qualifying whether a cell population is a suitable therapeutic for treating ALS.
Brainstorm said the Australian patent office had separately granted a patent which protects an isolated Exosomes population and a pharmaceutical composition of a neurodegenerative disease treatment.
The same claims were allowed under an application to the Israel patent office, the company said.
Chief Executive Chaim Lebovits said the patents were a step toward protecting the company’s technology.
Brainstorm’s NurOwn platform uses harvested cells from patients, then manufactures them to release certain compounds that treat neurodegenerative diseases.
Write to Ben Glickman at [email protected]
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