Chinese Patent Drives SOBM Up the Charts
Shares of Sinobiomed Inc. (OTCBB: SOBM) jumped up in early trading today after announcing that its subsidiary was granted a Chinese patent. Shares of SOBM were up 25 cents (9 percent) to $3.07 per share on volume of just over 554,000 shares. SOBM announced in a press release this morning that Shanghai Wanxing Bio-pharmaceuticals Co. Ltd., the company's 82 percent owned subsidiary, has received the patent grant notice from the State Intellectual Property Office of the People's Republic of China for "a purified recombinant batroxobin with high bioactivity." Natural batroxobin is the world's most prescribed biological anti-bleeding agent, but also…