Emerging biotechnology firm, Tyme Technologies (NASDAQ:TYME), on July 26, 2021 announced receiving notification that the US Patent and Trademark office has approved additional patent claims pertaining to the firm’s metabolomic technology platform.
The company, which is developing cancer metabolism-based therapies, will harness patent for delivery of therapeutics to cancer cells.
Tyme has made technology that may be combined with second therapeutic agent creating fusion compound enabling targeted delivery to the cancer cells in a unique manner.
The method of delivery entails cancer cells consuming higher quantities of non-essential amino acids, including tyrosine. These are taken from surrounding environment for supporting growth as they are unable to make enough of the amino acids.
Steve Hoffman, Tyme’s Chief Scientific Officer, said that the technology can give the company a chance to increase scope of its current cancer-metabolism based approach aiming at delivering toxic therapies in a targeted manner.
Richie Cunningham, CEO of Tyme, said that the delivery technology is an example of the company’s innovative spirit at Tyme and having the potential to be broadly leveraged platform technology.
Delivery technology, an investigational method of drug delivery in pre-clinical phase of development, requires extra studies, which will be done by the firm in the current year.
Market Reaction:
As of 1:15, TYME stock skyrocketed 62% at $1.75 with more than 246.82 million shares, compared to its average volume of 2.71 million shares. The stock has moved within a range of $1.4500 – 2.0200 after opening the trade at $1.68. Over the past 52-week, the stock has been trading within a range of $0.8500 – 4.9900.
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