Suven Life gets patent for neurodegenerative drug from Australia, Canada

Drug firm Suven Life Sciences has been granted a patent each by Australia and Canada for a drug used in the treatment of neurodegenerative diseases.

In a BSE filing on Friday, Suven Life said it has been granted "one product patent from Australia and one product patent from Canada, corresponding to the new chemical entities (NCEs) for the treatment of disorders associated with neurodegenerative diseases".

The two patents from Australia and Canada will be valid till 2032 and 2031, respectively, the company added.

Suven Life CEO Venkat Jasti said, "We are very pleased by the grant of these patents to Suven for our pipeline of molecules in the central nervous system (CNS) arena, which is being developed for cognitive disorders with high unmet medical need with a huge market potential globally." With these new patents, Suven has a total of 23 granted patents from Australia and 22 from Canada.

"These granted patents are the exclusive intellectual property of Suven and are achieved through internal discovery research efforts. Products out of these inventions may be out-licensed at various phases of clinical development like phase-I or phase-II," Suven said.

At 1155 hours, the shares of Suven Life Sciences were trading up 2.19% or Rs 3.40 at Rs 151.50 per scrip on the BS