Suven Life Sciences jumps on bagging product patents

Suven Life Sciences rose 5.29% to Rs 221.05 at 11:10 IST on BSE after the company said it secured five product patents for their new chemical entities in Israel, Japan, China and New Zealand.

The announcement was made during trading hours today, 12 December 2014.

Meanwhile, the BSE Sensex was up 68.63 points, or 0.25%, to 27,670.64.

On BSE, so far 1.95 lakh shares were traded in the counter, compared with an average volume of 2.47 lakh shares in the past one quarter.

The stock hit a high of Rs 224.60 and a low of Rs 211.20 so far during the day. The stock hit a record high of Rs 236.50 on 3 November 2014. The stock hit a 52-week low of Rs 65.10 on 12 December 2013.

The stock had underperformed the market over the past one month till 11 December 2014, falling 9.23% compared with 1.10% fall in the Sensex. The scrip had also underperformed the market in past one quarter, rising 1.74% as against Sensex's 2.25% 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 that the grant of two product patents from Israel, one product patent from Japan, one product patent from china and one product patent from New Zealand corresponding to the new chemical entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and these patents are valid through 2027, 2028, 2029 and 2030 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 disease, Attention deficient hyperactivity disorder (ADHD), Huntington's disease, Parkinson and Schizophrenia, the company said.

With these new patents, Suven has a total of two granted patents from Israel, eleven granted patents from Japan, fifteen product patents from China and twenty-one product patents from New Zealand. 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, the company added.

Net profit of Suven Life Sciences declined 45.47% to Rs 24.84 crore on 7.65% decline in net sales to Rs 139.83 crore in Q2 September 2014 over Q2 September 2013.

Suven Life Science is a biopharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products, which are first in class or best in class CNS therapies through the use of GPCR targets. The company has eleven internally-discovered therapeutic drug candidates currently in pre-clinical stage of development targeting conditions such as ADHD, dementia, depression, Huntington's disease, Parkinson's disease and obesity in addition to Phase 2 ready developmental candidate SUVN-502 for and Phase1 candidate SUVNG3031 for Alzheimer's disease and Schizophrenia.

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