Hyderabad - November 30, 2009: Suven Life Sciences Ltd (Suven) announces today that the European Patent Office (EPO) has issued 3 new patents: EP1537113, EP1704154 and EP1856132 corresponding to three New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative dieseases and these Patents are valid unti 2022, 23 and 24 respectively.
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, ADHD, Parkinson, Schizophrenia and Huntington's diseases.
With these new patents, Suven has total of 7 granted EPO patents on NCEs. All the 7 EPO patents have been validated in the 37 member countries of Europe. 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 stages of clinical development like at Phase-I or Phase-II.
"We are very pleased by the grant of these patents to Suven by EPO for our pipeline of molecules in CNS arena that are being developed for cognitive disorders which has an estimated $20 billion market potential globally" says Venkat Jasti, CEO of Suven.
The stock was trading at Rs.25.85, up by Rs.1.20 or 4.87%. The stock hit an intraday high of Rs.25.85 and low of Rs.24.50.
The total traded quantity was 52227 compared to 2 week average of 50007.
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