Bio-Path recently traded at $16.75, compared with its Tuesday close at $5.20. It has traded on Wednesday at as much as a 52-week high $24.34. It was trading below $3 in mid-March.
The technology receiving the patent is DNAbilize liposomal delivery and antisense technology, used to develop a portfolio of targeted nucleic acid cancer drugs.
The patent is titled "P-ethoxy nucleic acids for liposomal formulation," Bio-Path said.
“The new patent builds on earlier patents granted that protect the platform technology for DNAbilize, the company’s novel RNAi nanoparticle drugs.”
The U.S. Patent and Trademark Office also has sent notification for a patent related to the company’s lead product candidate, prexigebersen, Bio-Path said.
“Our innovative DNAbilize platform improves upon the drawbacks of traditional approaches, which are limited by the toxicity induced by either the DNA backbone or the lipid delivery,” Chief Executive Peter Nielsen said in a statement.
“DNAbilize overcomes these challenges by combining a neutral charge P-ethoxy DNA backbone with a neutral charge liposome.”
Further, “The result is a high payload liposome with DNA safely delivered inside non-toxic cell membrane-like molecules, allowing us to deliver antisense DNA in high doses to target cells through the blood and lymphatic system with no evidence of toxicity in patients in clinical trials to date, in contrast to other lipid delivery technologies with dose limiting toxicities,” he said.
The P-ethoxy nucleic acids patent “is the third patent in our family of platform intellectual property and offers expanded defense of our DNAbilize platform technology,” Nielsen said.