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It was a big day of patent approval for two Aussie companies!

ASX closed higher; Archer Materials rallied on US patent; Imugene surged on Japanese patent approval

The ASX200 closed 0.32% higher on Wednesday at 7296.90.

Archer Materials surged following US patent granted for CQ quantum.

Imugene jumped 5.49% after receiving patent approval in Japan.

The Australian market maintained a strong rally throughout the midweek session to close 0.32% higher at 7296.90 as energy stocks led gains on the key index. Sims was the best performing stock today, gaining 6.76%, while Worley added more than 5.7%.

The tech sector closed the midweek session in negative territory as Link Administration Holdings fell more than 2.7% and Wisetech Global lost 2.02%.

Bitcoin is trading 1.27% lower over the last 24-hours at US$42,128.88 at 4:30pm AEST.

Materials technology company Archer Materials surged 4.5% today after announcing its CQ quantum computing chip was granted a patent in the US. Archer Materials management sees the patent approval as a critical stage to protect and potentially commercialise its products.

Making headlines, Australian-based biotech company Imugene jumped just under 5.5% today after announcing it has been granted patent approval from the Japanese Patent Office for protection over its HER-Vaxx immunotherapy which is currently in development for a type of gastric cancer.

And tech startup EyeGage has launched its first app designed to read and analyse a users’ eyes before telling them whether they are sober enough to drive or not.

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