Cellmid Limited (ASX: CDY) should trade firmer again today after receiving official Notification of Grant from the United Kingdom Intellectual Property Office for its patent application for use of midkine to prevent and treat hair loss and to promote and enhance hair growth.
This patent is the first granted member of the extensive midkine patent family for hair growth. Other patents are filed or are under examination in the U.S., Europe, China, Hong Kong, Japan, Korea and Australia.
This protects the use of midkine and the closely related protein pleiotrophin for use as hair loss and/or hair growth treatments.
The patent entitled "Method of treatment or prevention of hair loss or for the enhancement of hair growth" covers topical formulations of all kinds, including shampoos, conditioners, creams and lotions with protection until 2031.
And it adds to the value of Cellmid's considerable intellectual property assets of its wholly owned anti-aging hair growth subsidiary, Advangen, which include patent protection around its FGF5 inhibiting technologies, cell based assays, formulations and brands.
Advangen's products are on sale in Australia, China and Japan; in the future the company aims to bolster its distribution in these countries and expand to the USA, Europe and South America.
Advangen's business is underpinned by an innovative and scientifically validated product pipeline including novel FGF5 inhibitors as well as midkine-based products.
Just yesterday, Cellmid reported publication of a peer-reviewed scientific paper that, for the first time, directly links the FGF5 protein as a cornerstone regulator of human hair and eyelash growth.
This confirmed that blocking FGF5 is an attractive therapeutic approach to increase hair growth.
The anti-aging hair care area is one of the fastest growing segments of the estimated $90 billion annual hair care market.
Cellmid, through its wholly owned subsidiary Advangen, is well positioned to take a leading role in this market with its range of biologically active high tech products and technologies.
This patent is yet another building block in Cellmid's growing portfolio of preventing and treating hair loss and promoting growth applications.
In addition, Cellmid has recently appointed biologics manufacturer Rodon/Biotecnol as it progresses towards a clinical trial for its humanised anti-midkine antibody CAB102.
Share price catalysts ahead include the start of the clinical program in early 2015 and ongoing progress on the development of the novel MK Tribodies with Biotecnol.
Taken together, these offer Cellmid several opportunities for commercialisation and growth.
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