Allergy Therapeutics Plc (LON:AGY) is a UK-based, specialty pharmaceutical company focused on the development, manufacture and sale of vaccines and other products for the treatment and prevention of allergies. The company today announced that the European Patent Office has granted a broad patent covering the novel manufacture and physico-chemical properties of its unique microcrystalline tyrosine (MCT) depot adjuvant. Our risk-adjusted fair value estimate remains unchanged at 66p per share.
Comment: Allergy Therapeutics Plc MCT technology has been incorporated into the company’s leading allergy vaccine portfolio for many years. The issuance of this European patent serves to further strengthen the company’s IP estate and enhances the profile of the company’s vaccine adjuvant portfolio. With new data demonstrating that MCT acts synergistically with the company’s virus-like-particle (VLP) technology in both allergic and infectious disease vaccines, we believe the in-house adjuvant technologies branded as Bencard Adjuvant Systems will make a strong contribution in the longer term to the value of AGY.