Shares of Sinobiomed Inc. (OTCBB: SOBM) jumped up today after news of its malaria vaccine receiving a European patent surfaced. In early trading today, SOBM was up 29 cents (9 percent) to $3.62 per share on volume of just over 1 million shares.
The European Patent Office (EPO) has granted a patent for the malaria vaccine PfCP2.9 to which SOBM has exclusive rights to develop, manufacture and sell through its 82 percent owned subsidiary, Shanghai Wanxing Bio-pharmaceuticals Co. Ltd. The EPO provides patent protection in up to 37 European countries.
“The granting of the European patent further strengthens Sinobiomed’s ability to proceed with the vaccine’s development with full confidence in its potential for commercial development for the global market,” said Banjun Yang – president and CEO of SOBM – in a statement. “The potential benefits to humanity as well as to Sinobiomed shareholders are significant.”
SOBM is a leading Chinese developer of genetically engineered recombinant protein drugs and vaccines. Based in Shanghai, SOBM currently has 10 products approved or in development: two on the market, one approved and market ready, four in clinical trials and three in research and development. The company’s products respond to a wide range of diseases and conditions, including: malaria, hepatitis, surgical bleeding, cancer, rheumatoid arthritis, diabetic ulcers and burns, and blood cell regeneration.
