Suven Life Sciences shares gained over 3 per cent in the morning trade on Tuesday after the drug company secured product patents from Canada, South Korea and ARIPO corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases. These patents are valid through 2030.
With these new patents, Suven has a total of twenty one granted patents from Canada, two granted product patents from ARIPO and nineteen granted patents from South Korea.
At 11.02 am, share price of the company was trading 1.54 per cent up at Rs 264.50. The scrip opened at Rs. 261.05 and has touched a high and low of Rs 269.40 and Rs 258.30, respectively, in trade so far. Later, the share price of the company closed 1.09 per cent up at Rs 263.35.
The promoters holding in the company stood at 59.57 per cent while institution and non-institutions held 7.20 per cent and 33.23 per cent respectively.
So far, around 0.81 lakh shares of Suven Life Sciences exchanged hands on the BSE as compared with two-week average daily volume of 1.33 lakh shares.
The granted claims of the patents include the class of selective 5-HT compounds discovered by Suven and are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimer’s disease, Attention deficient hyperactivity disorder (ADHD), Huntington’s disease, Parkinson and Schizophrenia.
These granted patents are exclusive intellectual property of Suven and are achieved through the internal discovery research efforts. Products out of these inventions may be out-licensed at various phases of clinical development like at Phase-I or Phase-II. “We are very pleased by the grant of these patents to Suven for our pipeline of molecules in CNS arena that are being developed for cognitive disorders with high unmet medical need with huge market potential globally” says Venkat Jasti, CEO of Suven.