Phylogica wins US peptide patent

Phylogica Limited (ASX:PYC) has been awarded a US patent for a new peptide with potential to revive dead brain cells following traumatic conditions such as a stroke.

The Perth-based peptide drug discovery company has secured a patent for the PYC38 Phylomer peptide and its derivatives.

Phylomer is the trademarked name for Phylogica's library of peptides with potential drug leads. They are based on the expressed sequences of protein fragments encoded by the genes of microbes that are often found in extreme environments.

Phylogica CEO Dr Paul Watt said the granting of the patent “provides further validation of the biological activity of Phylomers against intracellular targets.”

He said Phylomers and other peptides are leading the way to the development of a new subset of biologics.

“The vast majority of therapeutic targets are found within cells, yet most of these targets are not tractable with conventional drugs such as small molecules,” he said.

“If drugs of the biologics class can access targets inside cells, this provides a huge opportunity to expand the target landscape.”

Late last year, Phylogica entered a partnership with Janssen Biotech aimed at developing new drug classes derived from Phylomers.

The company has been involved in a similar collaboration with Pfizer since 2010, and in December last year revealed it had received its first milestone payment under the deal.

PYC shares were trading $0.038 as of 11am Monday.