Moneycontrol Bureau
Shares of Suven Life Sciences touched an all-time high of Rs 236.50 on the Bombay Stock Exchange, up 11.2 percent on Monday after the company informed exchanges that its NCE SUVN-3031 (to treat Alzheimer’s disease) has commenced phase 1 clinical trial in the USA.
SUVN-G3031 is orally active Histamine H3 antagonist for the treatment of cognitive dysfunction associated with Alzheimer’s disease/Schizophrenia.
Suven said the drug has completed all the preclinical, safety and early toxicological studies, GLP toxicological studies and was submitted for Investigational New Drug Application {IND) to conduct phase 1 clinical trial with the indication for cognition in Alzheimer’s disease under the Federal Food, Drug and Cosmetic Act (FDCA).
"We are very pleased that the second compound from our pipeline of molecules in CNS has moved into clinical trial that is being developed for cognitive disorders in Alzheimer’s and Schizophrenia with high unmet medical need which has huge market potential globally," said Venkat Jasti, CEO of the company.
The company has 11 internally-discovered therapeutic drug candidates currently in pre-clinical stage of development targeting conditions such as ADHD, dementia, major depressive disorder (MDD), Huntington's disease, Parkinson'sdisease and obesity.
At 13:06 hours IST, the stock was quoting at Rs 229.75, up Rs 17.10, or 8.04 percent amid high volumes.
Posted by Sunil Shankar Matkar
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