SPEX stock is moving higher on March 6, 2020, after the company announced an exclusive option agreement with the University of Maryland, Baltimore (UMB) for the technology set forth in Patent number 10,434,116 “Methods of Treating Coronavirus Infection.”
Spherix Incorporated (Nasdaq: SPEX) today announced it has executed an exclusive option agreement (“Option”) with the University of Maryland, Baltimore (UMB) for the technology set forth in Patent number 10,434,116 “Methods of Treating Coronavirus Infection.” The present invention provides methods for treating a coronavirus infection.
This invention was made with government support under Grant Number AI095569 awarded by the National Institutes of Health. As result, the NIH has certain rights in the invention. Under the Option, Spherix has until the end of May of 2020 to complete its due diligence and execute a license agreement for commercial development.
You can read more about Patent 10,434,116 here.
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