Impact BioMedical Inc. (NYSE: IBO) Announces 3F™ US Patent Issue
Rhea-AI Summary
Impact BioMedical Inc. (NYSE: IBO) has announced the issuance of U.S. Patent No. 11,985,973 for its 3F™ technology platform, titled 'Insect Repelling Composition'. This patent, along with the previously granted U.S. Patent No. 11,246,310, covers natural insect repellent compositions derived from plant constituents and fragrances. These patents will expire in February 2039 and April 2040, respectively.
The 3F™ technology inhibits insect olfactory receptors, effectively 'blinding' insects to human presence. Potential applications include mosquito repellents and additives for detergents, shampoos, or lotions. This innovation addresses the global issue of vector-borne diseases, which account for 17% of all infectious diseases worldwide according to the WHO.
IBO CEO Frank D. Heuszel stated that this patent issuance demonstrates the company's successful business model in delivering unique proprietary technology for unmet healthcare needs. IBO is now accelerating discussions with potential partners to bring 3F™ to market in the US and globally.
Positive
- Issuance of new U.S. Patent No. 11,985,973 for 3F™ technology platform
- Extension of patent protection until February 2039 and April 2040
- Potential applications in insect repellents and personal care products
- Addressing a significant global health issue (vector-borne diseases)
- Accelerating discussions with potential partners for market entry
Negative
- None.
News Market Reaction – IBO
In the trading session that priced this news, IBO gained 3.46%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
HOUSTON, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Impact BioMedical Inc. (“IBO”) is pleased to announce that the US Patent and Trademark Office has issued U.S. Patent No. 11,985,973 entitled “Insect Repelling Composition” developed within IBO’s 3F™ technology platform.
This is in addition to IBO’s prior granted U.S. Patent No. 11,246,310. Both patents include compositions and formulations of constituents found in plants and fragrances produced by plants, which, when applied as a natural insect repellent, have the potential to reduce insect landings and bites experienced in an outdoor environment. The terms of U.S. Patents 11,985,973 and 11,246,310 will expire in February 2039 and April 2040, respectively.
This expands Impact BioMedical’s 3F™ patent estate, which includes insect repellent compositions and anti-microbial applications in the United States and other countries. It also further demonstrates IBO’s commitment to discovering, developing, and patenting unique technologies to meet unmet needs in human healthcare.
These compositions and/or formulations inhibit the olfactory receptors either specifically or universally to “blind” the insect to human presence. Potential applications of the technology include use as a human insect (e.g., mosquito) repellent and/or as an addition to detergents, shampoos, or lotions to repel insect activity.
According to the World Health Organization, vector-borne diseases account for approximately
Upon notification of the patent issue, IBO CEO Frank D. Heuszel said, “This is another demonstration of success with our business model delivering new unique proprietary technology with the potential to address unmet needs in human healthcare. We are now accelerating discussions with potential partners to move 3F™ rapidly towards the market in the US and other countries worldwide.”
About Impact BioMedical, Inc.:
Impact BioMedical Inc. discovers, confirms, and patents unique science and technologies which can be developed into new offerings in biopharmaceuticals and consumer healthcare and wellness in collaboration with external partners through research, licensing, co-development, joint ventures, and other relationships.
Safe Harbor Disclosure:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are subject to risks and uncertainties that may cause actual results or events to differ materially from those projected. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date.
Media Contact:
Emily Martin
Email: emartin@impactbiomedinc.com
Investor Relations:
info@impactbiomedinc.com
