Suven Life Sciences Ltd. jumped as much as 4.6 percent to Rs 200.80 after the company secured three product patents, one each in Canada, Hong Kong, and Europe.
The product patents involve ‘new chemical entities' for the treatment of neuro-degenerative disorders, the Hyderabad based company said in a press release.
A new chemical entity, according to the U.S. Food and Drug Administration, is a drug which contains no previously approved molecule or ion that is responsible for its medicinal effect.
The patents are valid through 2030 in Canada, and 2032 in Hong Kong and Europe. The products from these patents may be out-licensed at various phases of clinical development, the company added.
The patented entities will be used to treat cognitive impairment associated with disorders like Alzheimer's, Huntington's, Parkinson, Schizophrenia, and Attention Deficient Hyperactivity Disorder.
We are very pleased by the grant of these patents to Suven for our pipeline of molecules in central nervous system arena that are being developed for cognitive disorders with high unmet medical need with huge market potential globally.Venkat Jasti, CEO, Suven Life Sciences (Source: Press Release)
Suven now has 24 patents from Canada, 22 from Europe, and 21 from Hong Kong.
Shares of Suven were trading 2.7 percent higher at Rs 196.8 as of 1:10 p.m.
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