Biopharmaceutical firm Suven Life Sciences today said it has been granted one patent each by the US, Israel and Macau for a drug used in the treatment of neurodegenerative diseases.
Neurodegenerative diseases include Alzheimer’s, Schizophrenia and Parkinson’s.
In a BSE filing, the company said it has been granted “one product patent from Israel, one product patent from Macau and one product patent from USA corresponding to their New Chemical Entities (NCEs) for the treatment of disorders associated with neurodegenerative diseases’’.
Shares of the company were trading at Rs 244.75 on BSE in the afternoon trade, up 0.72 per cent.
Earlier, on May 22, the company had said it has been granted patent by Mexico and Singapore for the same drug.
Suven Life Sciences CEO Venkat Jasti said: “We are very pleased by the grant of these patents to Suven for our pipeline of molecules in the central nervous system (CNS) arena that are being developed for cognitive disorders with high unmet medical need with huge market potential globally.”
After the grant, Suven Life Sciences’ total count of patents stands 21 in US, 5 in Israel and 4 in Macau.