Ocean soars ~60% after cancer immunotherapy patent for scientific co-founder

May 23, 2023 9:45 AM ETOcean Biomedical, Inc. (OCEA)By: Ravikash, SA News Editor

Ocean Biomedical (NASDAQ:OCEA) stock rose ~63% on Tuesday after the company said its Scientific Co-Founder Jack Elias was issued a broad patent related to his cancer immunotherapy treatment.
The immunotherapy discovery is related to reversing immune system suppression by binding chitinase 3-like-1 (CHi3L1) polypeptides with Ocean's proprietary immunoglobulin antibody, the company added.
The patent was granted for prostate, colon, rectal, ovarian, kidney, breast, glioblastoma, melanoma, and lung cancers.
Ocean noted that the new claims dovetail issued patents with claims coverage focused on composition of matter of monoclonal antibodies targeting and inhibiting CHi3L1.
"This pathway discovery is an unprecedented leap forward, because if you control CHi3L1, you don’t just control one anti-cancer pathway, you simultaneously control many anti-cancer pathways," said Elias.