SOBM Jumps Up on Malaria Vaccine Patent News
Shares of Sinobiomed Inc. (OTCBB: SOBM) jumped up today after news of its malaria vaccine receiving a European patent surfaced. In early trading today, SOBM was up 29 cents (9 percent) to $3.62 per share on volume of just over 1 million shares. The European Patent Office (EPO) has granted a patent for the malaria vaccine PfCP2.9 to which SOBM has exclusive rights to develop, manufacture and sell through its 82 percent owned subsidiary, Shanghai Wanxing Bio-pharmaceuticals Co. Ltd. The EPO provides patent protection in up to 37 European countries. “The granting of the European patent further strengthens Sinobiomed's ability…