Shares of Byotrol PLC jumped on Thursday after the company announced it had been granted a UK patent for a new antiviral seaweed extract.
Shares of the Chester, England-based antimicrobial technology and product developer were up 9.7% at 2.08 pence a unit in London on Thursday morning. Over the past twelve months, the stock has fallen 18%.
Byotrol said it received UK patent approval, following “its discovery of unique antiviral properties of certain commonly available enhanced brown seaweed extracts”.
The company said that granting the patent application gave it validated, valuable and protected intellectual property to support the development of business relationships.
In the UK and Europe, seaweed extracts are not yet approved as active ingredients for biocidal products. Therefore, Byortol said it is actively exploring other applications in very important markets such as over-the-counter products for the prophylactic treatment of viral ailments including colds, flu, coronaviruses and cold sores.
Chairman Trevor Francis said: “We are delighted to have obtained the first patent for our algae-based antiviral technologies. This is another good indication of the quality of our technical capability, and will most certainly help us to intensify our search for commercial partners. It also comes on top of our already significant intellectual property in the area of antimicrobials.”
This article is originally published on zonebourse.com