Economic Times: January 23, 2017
New Delhi: Drug firm Suven Life Sciences has been granted a patent by Australia for a drug used in the treatment of neuro-degenerative diseases.
Suven Life in a filing to BSE stock exchange announced "the grant of one product patent from Australia corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with neurodegenerative diseases."
The patent is valid till 2033, the filing said.
Suven Life CEO Venkat Jasti said: "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."
With this new patent, Suven has a total of 25 granted patents from Australia. "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 said.
Shares of Suven Life Sciences were trading 1.97 per cent up at Rs 173.55 on BSE in morning trade.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.