Tyme Technologies, Inc. (NASDAQ: TYME) saw its shares back off at the opening bell Tuesday, after the emerging biotechnology company announced that it has received notification that the United States Patent and Trademark Office has granted additional patent claims related to the Company’s metabolomic technology platform. The patent, U.S. Patent No. 11,058,638, involves a targeted delivery of therapeutics to cancer cells.
Tyme has developed a technology by which the tyrosine isomer racemetyrosine (a-methylparatyrosine) can be fused with a second therapeutic agent in a manner that creates a fusion compound that may allow targeted delivery to the cancer cells in a novel manner.
This method of delivery, is predicated on the metabolic phenomenon in which cancer cells consume higher quantities of non-essential amino acids, including tyrosine, from their surrounding environment to support their growth because they cannot make enough of these amino acids.
"This technology could provide Tyme an opportunity to expand its current cancer-metabolism based approach with a drug delivery platform that’s aimed to deliver toxic therapies in a targeted manner that could offer improved safety and efficacy for a range of anticancer drugs." said Steve Hoffman, Tyme’s Chief Scientific Officer.
"This delivery technology is another example of our innovative spirit at Tyme. Even though this approach is still in its early stages, if proven, it has the potential to be a broadly leveraged platform technology." said CEO Richie Cunningham.
TYME shares decreased in price five cents, or 3.6%, to $1.33.
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