Here’s why ASX healthcare shares Actinogen, Althea and Telix are trending today

Highlights

  • Actinogen Medical has completed the global grant process for Xanamem with the official notification for the grant of its patent application in Brazil.
  • Althea’s Canadian subsidiary, Peak Processing Solutions, has entered into a manufacturing deal with Supreme Cannabis Ltd.
  • Telix Pharmaceuticals has entered into a strategic collaboration with Lightpoint Medical on Radioguided Surgery.

The Australian benchmark index ASX 200 is slightly up today, moving 0.304% to 7,483.6 at 12:53 PM AEST, while the healthcare sector index is also up 1.932%, with some healthcare stocks in the spotlight on the back of some key updates. A few such ASX-listed healthcare companies include Actinogen Medical Limited (ASX:ACW), Althea Group Holdings Limited (ASX:AGH) and Telix Pharmaceuticals Limited (ASX:TLX).

This article will discuss the updates of these three ASX-listed healthcare players-

RELATED READ: Seven ASX healthcare stocks delivering 1-month returns of over 15%

Actinogen obtains global patent family grant

ASX-listed biotechnology player Actinogen Medical is developing a novel treatment for neurological-diseases-linked cognitive impairment. The Company has obtained an official notification today for the grant of its patent application for Xanamem in Brazil.

The Brazilian patent grant completes a key part of the intellectual property (IP) portfolio of Actinogen with protection across all major pharmaceutical markets, including the US, UK, EU, Australia, China, Canada, and Japan.

The patent was granted for “Webster 7” family, completing the global grant process for the composition of matter patent family.

Source: © Stuartbur | Megapixl.com

The Company also notified that these patents provide exclusive rights to Actinogen in these regions. Furthermore, the patents cover the composition of matter of Xanamem and its use in indications, including Alzheimer’s Disease (AD) and Fragile X Syndrome.

Interestingly, this patent encompasses the composition of matter protection to 2031 with the possibility to extend by an additional five years in the US, EU, Australia, China, Israel, Korea, and Japan.

Dr Steven Gourlay, CEO and MD of Actinogen, commented-

On 23 August 2021, ACW shares were trading at AU$0.081, up 3.846% at 12:53 PM AEST.

ALSO READ: Which are the 10 hottest biotech stocks on the ASX?

Althea’s Peak enters into a manufacturing agreement with Canopy Growth

Althea Group Holdings today announced that its Canadian subsidiary, Peak Processing Solutions, has entered a manufacturing deal with Supreme Cannabis Ltd. Supreme, a wholly owned subsidiary of Canopy Growth Corporation (NASDAQ:CGC, TSX:WEED).

This agreement would allow Peak to perform hydrocarbon extraction services for developing various concentrate products for Supreme by using their cannabis inputs. The agreement with Peak will provide Supreme with additional manufacturing capabilities for supporting its continued growth.  Moreover, the agreement includes minimum order quantities of ~CAD$600,000 in the initial one-year term.

Source: Copyright © 2021 Kalkine Media

Joshua Fegan, CEO of Althea Group Holdings, commented:

Medicinal cannabis producer and importer Althea also provided a trading update highlighting that its pharmaceutical cannabis operations in Australia and the UK have grown significantly in the last year, achieving revenue of AU$10.02 million in FY21, up from AU$5.05m in FY20. Althea now has 20,322 registered patients having the potential to increase revenue materially faster in FY22.

On 23 August 2021, AGH shares were trading at AU$0.285, in line with the previous close at 12:53 PM AEST.

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Telix to collaborate with Lightpoint Medical

Telix Pharmaceuticals is engaged in developing targeted radiopharmaceuticals or molecularly-targeted radiation (MTR)-based diagnostics as well as therapeutic products. On 23 August 2021, the Company entered into a strategic collaboration agreement with Lightpoint Medical, a UK-based leading medical device company.

With this collaboration, the two players will investigate the combined use of Telix and Lightpoint’s technologies for RGS (radioguided surgery) to detect cancer in real-time.

Source: Copyright © 2021 Kalkine Media

The two partners will assess the use of Telix’s TLX599-CDx with SENSEI® flexible laparoscopic gamma probe of Lightpoint to detect intra-operative cancer. The ultimate aim of the clinical collaboration is to obtain marketing approval for the use of TLX599-CDx in RGS, a new indication for prostate cancer.

Dr Christian Behrenbruch, CEO of Telix,  added-

RELATED ARTICLE: Three ASX healthcare shares delivering over 15% returns this week

On 23 August 2021, TLX shares were trading at AU$6.860, down 0.436% at 12:53 PM AEST.

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