Suven gets patents from New Zealand, Eurasia

Drug firm Suven Life Sciences today said it has received four product patents for its new chemical entities (NCEs), used in treating disorders like Alzheimer's disease, Parkinson and Schizophrenia.

The company has received patents, two each from New Zealand and Eurasia, which are valid until 2022 and 2025 respectively, Suven Life Sciences said in a statement.

"We are very pleased by the grant of these patents to Suven for our pipeline of molecules in the CNS arena that are being developed for cognitive disorders which has an estimated $30 billion market potential globally", Suven CEO Venkat Jasti said.

Eurasia region consists of Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, Azerbaijan and Turkmenistan.

Products of these inventions may be out licensed at various phases of clinical development like phase I or phase II, Suven added.

With these new patents Suven has a total of nine granted patents in New Zealand and eight in Eurasia.

Shares of Suven were trading at Rs 24.95 in the late afternoon trade on the Bombay Stock Exchange (BSE), up 4.18 per cent from its previous close.