Mumbai: Pharmaceutical firm Suven Life Science today said it has received permission from Drug Controller General of India to conduct Phase I clinical trials of SUVN-502, a product used in the treatment of Alzheimer disease.
The drug is also used in the treatment of other disorders of memory like attention deficient hyperactivity, Parkinson and schizophrenia, Suven said in a filing to the Bombay Stock Exchange.
SUVN-502 is the lead compound, selected from a series of more than 500 compounds, which were designed and developed using the combination of traditional and rational medical chemistry approaches, the filing added.
The company is also in discussion for potential licensing partners for this compound and targets launching the molecule in 2012, the company added.
Further, other molecules in the same category currently under development include GSKs molecule presently in Phase II.
Shares of the company were trading at Rs21.50, down 0.23% in afternoon trade on the BSE.