Suven Life Sciences spurts on stake sale buzz

DALAL STREET SPIKES

Suven Life Sciences was locked at upper limit of 20 per cent at Rs 46.55 on BSE on reports of talks with two private equity companies to dilute up to 10 per cent.

Suven is reportedly planning to raise up to $30 million by March 2008 to fund the development of SUVN-502, a compound that will have initial clinical trials in January 2008. The experimental drug is being developed as a treatment for Alzheimer's Schizophrenia and cognition-related disorders.