Suven Life jumps 3% on patents in Canada, ARIPO, South Korea

Moneycontrol Bureau

Suven Life Sciences' shares climbed 3.4 percent intraday Tuesday on getting product patents in three countries.

"Suven announced today that grant of one product patent each from Canada, ARIPO and South Korea corresponding to new chemical entities for treatment of disorders associated with neurodegenerative diseases," says the biopharmaceutical company in its filing.

These patents are valid through 2030.

Suven says these products are useful in treatment of cognitive impairment associated with neurodegenerative disorders like alzheimer’s disease, attention deficient hyperactivity disorder (ADHD), huntington’s disease, parkinson and schizophrenia.

With these new patents, Suven has a total of 21 granted patents from Canada, two granted product patents from ARIPO and 19 from South Korea.

The company says products out of these inventions may be out-licensed at various phases of clinical development like at Phase-I or Phase-II.

At 10:13 hours IST, the scrip of Suven Life Sciences was quoting at Rs 267.00, up Rs 6.50, or 2.50 percent on the BSE.Posted by Sunil Shankar Matkar