Archer Materials Ltd’s (ASX:AXE) (OTCMKTS:ARRXF) (FRA:38A) exclusively licensed Japanese patent application for its 12CQ quantum computing chip materials technology is undergoing substantive examination procedures in Japan.
The patent application has been filed under the Patent Cooperation Treaty and is aimed at protecting and commercialising intellectual property associated to the 12CQ technology.
With the application significantly progressing in the Japanese patent granting procedure the next steps involve procedural matters related to formal compliance and amendments.
These steps come immediately prior to the patent being able to be granted for protection in Japan.
Shares have been up almost 8.5% to 64.5 cents intra-day and have risen from 18 cents on May 1 to a high of 81.5 cents on May 26.
Archer Materials considers Japan as a key strategic jurisdiction to protect and commercialise its IP.
Japan is a major global economy and according to the World Economic Forum, ranks amongst the top five economies in the world for global competitiveness and GDP.
The company holds an exclusive licence to the IP, with patent applications in Australia, Japan, South Korea, Hong Kong, China, Europe and the US, all undergoing patent granting procedures.
Archer is a materials technology company developing materials in quantum computing, biotechnology and lithium-ion batteries as well as exploring for minerals in Australia.
The company has strong intellectual property, broad-scope mineral tenements, world-class in-house expertise, a unique materials inventory and access to more than $300 million of technology development infrastructure.