New Delhi:Suven Life Sciences on Tuesday said it has been granted a product patent by New Zealand and Norway each corresponding to a new chemical entity (NCE) for treatment of disorders associated with neurodegenerative diseases.

These patents are valid till 2034 and 2027, respectively, the company said in a BSE filing.

“We are pleased by the grant of these patents to Suven for our pipeline of molecules in the CNS arena, which are being developed for cognitive disorders with high unmet medical need with a huge market potential globally," Suven Life CEO Venkat Jasti said.

The granted claims of patents are being developed as therapeutic agents useful in treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimer’s disease, attention deficient hyperactivity disorder (ADHD), Huntington’s disease, Parkinson’s and schizophrenia, it added.

Suven Life Sciences shares were trading 1.86% up at Rs183.80 on BSE.