PTE - PolarityTE secures new Chinese patent; shares up 6%

PolarityTE (PTE) perks up 6% premarket after announcing that the China National Intellectual Property Administration has issued a Notification of Allowance for Chinese Patent Application No. 201580075326.3.The allowed claims relate to skin-regenerative compositions utilizing PolarityTE’s minimally polarized functional unit ((MPFU)) technology as well as methods of making a skin-regenerative composition utilizing the MPFU technology.Of note, China recently adopted a new law for patent term extension of up to 5 years to compensate for the time taken for review and approval, where the total patent term from the approval date of the new drug or biologic shall not exceed 14 years.

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PolarityTE secures new Chinese patent; shares up 6%