Suven Life up 5%, gets product patent in Eurasia & Israel

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Moneycontrol Bureau

Shares of Suven Life Sciences climbed 5 percent intraday Monday on getting product patent each in Eurasia and Israel.

"Suven announced the grant of one product patent from Eurasia and one product patent from Israel corresponding to the new chemical entities (NCEs) for the treatment of disorders associated with neurodegenerative diseases," says the biopharmaceutical company in its filing.

These Patents are valid through 2029 and 2030, respectively, it adds.

With these new patents, Suven has a total of fourteen granted patents from Eurasia and three granted patents from Israel.

"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 Major Depressive Disorder (MDD) with high unmet medical need with huge market potential globally," says Venkat Jasti, CEO of Suven.

At 10:55 hours IST, the scrip of Suven Life Sciences was quoting at Rs 239, up Rs 5.50, or 2.36 percent on the Bombay Stock Exchange.

Posted by Sunil Shankar Matkar