iX Biopharma has received a notice of allowance from the United States Patent and Trademark Office (USPTO) for its patent application on Tuesday (August 4).

The patent will provide key intellectual property protection for the Company's WaferiX delivery technology platform, and will provide a further barrier to generic entry in addition to iX Biopharma’s notice of allowance for its previous patent application which was issued earlier in 2020.

The patent, which is the second notice of allowance from the USPTO in recent months, is expected to expire no earlier than October 2030.

The allowed application covers the WaferiX technology and provides specific protection for WaferiX delivering ketamine (Wafermine), which is iX Biopharma’s lead drug under development, which is available for out-licensing.

iX Biopharma says it has filed corresponding patent applications in other key markets around the world.

Shares in iX Biopharma closed 1 cent higher, or 3.7% up, at 28 cents on August 3.