Why is the Medlab (ASX:MDC) share price surging 8% today?

The Medlab Clinical Ltd (ASX: MDC) share price is rising today after the European Patent Office announced its intention to grant the Australian company a patent for its Nanocelle technology.

The Medlab share price is up 8.33% today to 26 cents per share. 

Medlab is a medical research and development company that’s gained a lot of publicity for its innovative medical use of THC, one of the psychoactive compounds in cannabis.

It largely focuses on THC and other cannabinoid products as pain-relievers, but the company is also engaged in researching and formulating novel biotherapeutics or new therapeutic medicines derived from natural organisms.

Its products aim to improve health outcomes in early to moderate stage chronic diseases…