Suven Life closes 4% up; secures 5 patents for their NCEs

Shares of Suven Life Sciences surged 6 per cent on Bombay Stock Exchange in Tuesday's trade after the drug firm secured five product patents for their New Chemical Entities (NCEs) in Australia, China, Europe, South Korea and USA.

The stock ended the day at Rs 289.10, up 3.66 per cent after touching an intraday high of Rs 295.90, up 6.04 per cent, on BSE.

These patented drugs are used in the treatment of neuro-degenerative diseases.

The patents are valid until 2031, 2030, 2031, 2030 and 2031, respectively, the company said in a BSE filing.

"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, said Suven Life CEO Venkat Jasti.

With these new patents, Suven has a total of 22 granted patents from Australia, 19 from China, 17 from Europe, 17 from South Korea and 23 from the US.

"These granted patents are exclusive intellectual property of Suven and are achieved through the internal discovery research efforts," said drug firm.

"Products out of these inventions may be out-licensed at various phases of clinical development like at Phase-I or Phase-II," the company added.