Share price of Suven Life Sciences rose 2.5 percent intraday Tuesday as company secured product patents in New Zealand and Norway.
The company has been granted 1 product patent from New Zealand and 1 product patent from Norway corresponding to the new chemical entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases.
These patents are valid through 2034 and 2027.
The granted claims of the patents include the class of selective 5HT 6 compounds and are being developed as therapeutic agents for major depressive disorders and for the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimer’s disease, Attention deficient hyperactivity disorder (ADHD), Huntington’s disease, Parkinson and Schizophrenia respectively.
Venkat Jasti, CEO of Suven said, “We are very pleased by the grant of these patents to Suven for our pipeline of molecules in CNS arena that are being developed for cognitive disorders with high unmet medical need with huge market potential globally.”
At 11:14 hrs Suven Life Sciences was quoting at Rs 183.55, up Rs 3.10, or 1.72 percent on the BSE.
Posted by Rakesh Patil