Suven Life Sciences surges 3 per cent on securing patent for neuro-degenerative drug

By: | Published: June 29, 2016 5:49 PM

Suven Life Sciences shares surged nearly 3 per cent on Wednesday after the company informed bourses that it has secured three product patents in Europe and Eurasia corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases.

Suven Life Sciences sharesSuven Life Sciences shares surged nearly 3 per cent on Wednesday after the company informed bourses that it has secured three product patents in Europe and Eurasia corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases. (Photo: Reuters)

Suven Life Sciences shares surged nearly 3 per cent on Wednesday after the company informed bourses that it has secured three product patents in Europe and Eurasia corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases.

The scrip opened at Rs 206.40 and touched a high and low of Rs 210.30 and Rs 203.20. Later, the scrip settled 1.32 per cent up at Rs 206.90.

Suven Life informed bourses it has been granted “one product patent from Europe and two product patents from Eurasia corresponding to New Chemical Entities (NCEs) for treatment of disorders associated with neuro-degenerative diseases. The patents are valid through 2029, 2030 and 2031, respectively.”

With these new patents, Suven has a total of twenty one (21) granted patents from Europe and Nineteen (19) granted patents from Eurasia. 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.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition