The grant, plainly. On September 6, 2022, City of Hope was issued US11434504B2, covering AAV vector variants for high-efficiency genome editing. The CPC tags — C12N 15/907 (editing into chromosomal DNA), A61K 48/005 (gene therapy), C12N 7/00 and C12N 15/86 (viral vectors) — fuse the delivery vehicle with the editing payload in one claimed system.
Why a financing desk flags convergence IP: in-vivo gene editing requires both an editor and a way to deliver it, and a grant claiming the combination is a high-value platform asset. But building such a platform means a long pre-revenue runway — these companies burn cash through preclinical and early clinical work for years, and the convergence IP is what investors are funding.
The cautionary read: convergence IP raises the platform's ceiling but also its capital intensity. The longer and more complex the development, the more financings — and the more dilution — it typically takes to reach value inflection. Runway math still governs; the IP just defines what the runway is buying.
What the grant does not show: the licensee's cash, burn, or dilution path. Those come from the filings. The grant establishes the convergence asset — delivery plus editing — and its claimed scope.
The takeaway: convergence delivery-plus-editing grants are premium platform intangibles, but they signal a long, capital-hungry burn — read the runway from the filings accordingly. This September 2022 AAV-editing grant is a dated example of that convergence IP.