FibroBiologics gains on patent related to insulin-producing cell transplant technology

Shares of biotech firm FibroBiologics FBLG.O rose 2% to $1.00 in premarket trading after the company said the U.S. Patent Office granted a patent covering the use of fibroblasts to improve transplantation of insulin-producing islet cells for type 1 diabetes, an autoimmune disease where the body destroys insulin-producing cells.

The company said the patent aims to improve survival and long-term function of transplanted islets, addressing a key hurdle in islet transplantation. FibroBiologics said the technology could help more patients benefit from each donor pancreas by reducing loss of transplanted islets.

It added that fibroblasts may improve blood vessel formation, reduce cell stress and support transplanted tissue survival. The company also said the patent has potential applications beyond diabetes in other cell and tissue transplantation procedures.

As of the last close, the stock was down about 78% year to date.