Suven Life Sciences gets patents for neurodegenerative drug; shares rise over 1%

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

In a BSE filing on Tuesday, Suven Life said it has granted "one product patent from Canada, one product patent from ARIPO and one product patent from South Korea corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with neurodegenerative diseases." The patents are valid till 2030, 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 are being developed for cognitive disorders with high unmet medical need with a huge market potential globally."

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With these new patents, Suven has a total of 21 granted patents from Canada, 2 from ARIPO (African Regional Intellectual Property Organisation) and 19 from South Korea.

"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 1114 hours, the shares of Suven Life Sciences were trading up 1.40% or Rs 3.65 at Rs 264.15 per scrip intraday on BSE.