ANEW Medical, Inc. (NASDAQ:WENA) shares are trading higher Wednesday after the company has announced the issuance of a significant patent in Europe.

What's Going On: The patent, EP3377091B1, covers the use of ANEW's secreted Klotho gene sequence and gene delivery systems for treating diminished cognition, memory loss, dementia and other neurodegenerative diseases.

This crucial intellectual property asset was licensed exclusively from Universitat Autònoma de Barcelona (UAB) and Institució Catalana de Recerca i Estudis Avançats (ICREA) in Barcelona, Spain. Following recent patent approvals in China and Hong Kong, ANEW plans to expand its product development and intellectual property portfolio into Asian markets starting in 2024.

What Else: Dr. Joseph Sinkule, Founder and CEO of ANEW Medical, highlighted the potential of the s-KL protein therapy. Research indicates that the s-KL protein, a splice variant of the Klotho gene primarily produced in the brain, is vital for maintaining normal neurological function. ANEW aims to explore therapeutic and diagnostic applications of the s-KL protein, targeting diseases such as Alzheimer's, Parkinson's, Huntington's and ALS.

"We feel strongly about the significant potential of this therapy and have taken meticulous steps to protect and expand our licensed intellectual property in major global markets." said Sinkule.

WENA Price Action: Anew Medical shares were up by 127.9% at $3.76 at the time of writing, according to Benzinga Pro.

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