Suven Life Sciences gains after securing 2 patents

Suven Life Sciences rose 2.05% to Rs 208.65 at 12:10 IST on BSE after the company said it secured two product patents in India and South Africa.

Meanwhile, the BSE Sensex was up 99 points, or 0.36%, to 27,725.69.

On BSE, so far 1.40 lakh shares were traded in the counter, compared with an average volume of 52,679 shares in the past one quarter. The stock hit a high of Rs 212.10 and a low of Rs 203 so far during the day. The stock hit a 52-week high of Rs 308.70 on 5 October 2015. The stock hit a 52-week low of Rs 144.35 on 19 February 2016. The stock had underperformed the market over the past one month till 11 July 2016, sliding 2.34% compared with 3.72% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 0.07% as against Sensex's 10.41% rise.

The small-cap company has an equity capital of Rs 12.73 crore. Face value per share is Re 1.

Suven Life Sciences (Suven) announced the grant of one product patent from India (272835) and one product patent from South Africa (2014/09244) corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases. These patents are valid through 2028 and 2032 respectively.

The granted claims of the patents are from the mechanism of action include the class of selective 5-HT6 compounds and H3 Inverse agonist compounds and are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimer's disease, Attention deficient hyperactivity disorder (ADHD), Huntington's disease, Major Depressive disorder (MDD), Parkinson and Schizophrenia.

With these new patents, Suven has a total of 18 granted patents from India and 23 granted patents from South Africa. 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.

Suven Life Sciences' net profit rose 90.5% to Rs 32.29 crore on 53% rise in net sales to Rs 169.28 crore in Q4 March 2016 over Q4 March 2015.

Suven Life Sciences is a clinical stage biopharmaceutical company developing novel medicines to treat life-threatening Central Nervous System (CNS) disorders.

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