Shares of the pharma firm gained as much as 4.1 percent after it said it has been granted a patent each by Eurasia and Norway for a drug used in the treatment of neuro-degenerative diseases.
In a BSE filing today, Suven Life said it has been granted one product patent from Eurasia and one product patent from Norway corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases.
The patents are valid until 2032 and 2025, respectively, the company added.
We are very pleased by the grant of these patents to Suven for our pipeline of molecules in the CNS arena, which are being developed for cognitive disorders with high unmet medical need with a huge market potential globally.Venkat Jasti, CEO, Suven Life Sciences said in filing.
With the new patents, Suven has a total of 20 granted patent from Eurasia and 6 from Norway.
These granted patents are 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 Life Sciences' Filing
As of 12:00a.m., shares of the drug maker were trading 2.2 percent up at Rs 176.75 apiece on BSE.
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