Mumbai: Pharmaceutical firm Suven Life Sciences Tuesday said the Russian and Australian Patent offices have granted product patent to the company for compounds used in the treatment of neuro-degenerative diseases.
The company has received product patents for two of its new chemical entities used in the treatment of Central Nervous System (CNS) disorders. The patents are valid until 2023, Suven said in a filing to the Bombay Stock Exchange.
“We are pleased by the issuance of the patents in these countries to Suven for our drug candidates that are being developed for CNS disorders, which targets an $18 billion potential market opportunity globally,” Suven CEO Venkat Jasti said.
These granted patents are exclusive intellectual property of Suven and are achieved through the exclusive internal discovery research efforts. Products out of these inventories, which are in preclinical development may be licensed at the clinical Phase-I or II stage, the filing added.
The granted claims of the patent include the class of selective 5-HT compounds used in the treatment of cognitive impairment associated with neuro degenerative disorders such as Alzheimer’s, Parkinson, Schizophrenia among others.
Shares of Suven were trading at Rs 34.10, up 4.60% in the afternoon trade on the BSE.