Suven Life gets patents in Europe, Israel for neuro-degenerative drug candidate
Hyderabad: Suven Life Sciences Ltd, the Hyderabad-based biopharmaceutical firm, on Tuesday said it had been granted one product patent each by Europe and Israel for a drug candidate used in the treatment of neuro-degenerative diseases.
The patents are valid through 2030 and 2029, respectively, the company said in a statement to stock exchanges.
“We are very pleased by the grant of these patents to Suven for our pipeline of molecules in the CNS (central nervous system) arena that are being developed for cognitive disorders with high unmet medical need with a huge market potential globally,” Venkat Jasti, chief executive officer of Suven, said.
With these new patents, Suven has a total of 23 patents from Europe and 12 from Israel.
These patents are exclusive intellectual property of Suven, achieved through internal discovery research efforts, the company said.
“Products out of these inventions may be out-licenced at various phases of clinical development like phase-I or phase-II,” Suven said.
Suven has been one of the most prolific patent filers among Indian pharmaceutical companies. The company has thus far received 984 product patents for 28 inventions and 38 process patents for eight inventions.
Suven spent about Rs.63 crore or 12% of its Rs.519 crore revenue on research and development (R&D) in the year ended March. Of the total R&D spending, Rs.7.4 crore or 12% went to patent filings. Patent filing expenses rose by about 61% in 2015-16 compared to the previous year.
Shares of Suven rose 1.57% and closed at Rs.197.20 on the BSE on a day the benchmark Sensex gained 1.89% to end at 28,050.88 points.