JLGutierrez
Tenax Therapeutics (NASDAQ:TENX) gained ~52% on Tuesday after U.S. regulators endorsed its patent application related to its heart failure therapy, levosimendan, a move that could extend the drug’s exclusivity.
Issuing a Notice of Allowance regarding the company’s patent application, the U.S. Patent and Trademark Office (USPTO) has indicated its plans for broader IP rights, Tenax (TENX) said Tuesday before the market opened.
If granted, the new patent will extend the U.S. IP protections for levosimendan until December 2040 and potentially beyond.
The patent application relates to the oral, subcutaneous, and intravenous forms of levosimendan and its active metabolites when used in patients with heart failure with preserved ejection fraction (PH-HFpEF) to improve their exercise capacity.
Tenax (TENX) holds North American rights to develop and commercialize levosimendan, a potassium ATP channel activator discovered by Orion Corporation in Finland.