Suven Life Sciences shares increased by 5% after the news that the company has obtained one product patent each for a drug which is used in treating neuro-generative ailments by Europe and Israel.
In a filing to BSE, Suven Life said that it had been granted patents, one each from Europe and Israel about the New Chemical Entities for treating Brain-degenerative diseases. The patents will be effective through 2030 and 2029 respectively.
Venkat Jasti, Suven Life CEO gave the details about the patents granted to Suven for the series of molecules in the CNS arena which are being developed for cognitive disorders which have not been taken care of medically and has a tremendous commercial potential globally. Suven has in its pocket about 23 patents from Europe and 12 patents from Israel.
The patents have been given for processes which are the exclusive intellectual property of the company and are a result of a robust research effort. The byproducts obtained by these inventions can be licensed at different levels of clinical development like Phase I and Phase II.
The patents have been offered for the mechanism of action. It includes a group of selective α4β2 and H3 inverse antagonist compounds which have a therapeutic effect and useful in symptoms like dementia, cognitive impairment commonly associated with degenerative diseases like Alzheimer’s disease, Attention deficient hyperactivity disorder (ADHD), Huntington’s disease, Major Depressive disorder (MDD), Parkinson and Schizophrenia.
Suven Life Sciences profits rose by 58.2% to Rs 32.58 crore on 31.7% growth in net sales to Rs 133.23 crore in Q1 June 2016 over corresponding period the previous year. It is a biopharmaceutical company which specialises in drug research and developmental activities in CNS and research and manufacturing for third parties.