The notice of allowance broadens protection for Creative Medical's exosome-based diabetes program, while shares more than doubled Thursday afternoon after the announcement.
Creative Medical Technology Holdings Inc. said it received a Notice of Allowance from the U.S. Patent and Trademark Office for a patent application titled "Suppression of Diabetes Using Exosomes From Stem Cell Programmed Myeloid Cells," expanding intellectual property protection around its MyeloCelz platform and broader type 1 diabetes program. The clinical-stage biotechnology company said the cell-free technology uses stem-cell-programmed myeloid cells to induce immune tolerance and halt autoimmune destruction of insulin-producing pancreatic beta cells. Management said the allowance adds to a portfolio of about 60 issued patents and pending applications. Shares were up 104.67% at $1.36 on Thursday afternoon.