Moneycontrol Bureau
Shares of Suven Life Sciences climbed 5 percent intraday Tuesday on getting two product patents in Europe and Macau.
"Suven announced that grant of one product patent from Europe and one patent from Macau corresponding to new chemical entities for treatment of disorders associated with neurodegenerative diseases," says the Hyderabad-based biopharmaceutical company in its filing. These Patents are valid through 2030 and 2029, it adds.
With these new patents, Suven has a total of 20 granted patents from Europe and eight granted patents from Macau.
"We are very pleased by the grant of these patents to Suven for 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.
It has three clinical stage compounds, a phase 2 undergoing candidate SUVN-502, phase 1 completed candidate SUVN-G3031 and phase 1 undergoing candidate SUVN-D4010 for alzheimer’s disease and schizophrenia.In addition to that the company has 10 internally-discovered therapeutic drug candidates currently in pre-clinical stage of development targeting conditions such as ADHD, dementia, depression, Huntington’s disease, Parkinson’s disease and pain.
At 10:08 hours IST, the scrip of Suven Life Sciences was quoting at Rs 272.05, up Rs 10.10, or 3.86 percent on the BSE.Posted by Sunil Shankar Matkar
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