New Delhi: Drug firm Suven Life Sciences has been granted a patent each by Canada, South Korea and ARIPO for a drug used in the treatment of neuro-degenerative diseases.For latest news on Business & Budget 2017, like us on Facebook and follow us on Twitter.
In a BSE filing on Tuesday, Suven Life said it has granted "one product patent from Canada, one product patent from ARIPO and one product patent from South Korea corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases."
The patents are valid till 2030, the company added.
Suven Life CEO Venkat Jasti said: "We are very 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."
With these new patents, Suven has a total of 21 granted patent from Canada, 2 from ARIPO (African Regional Intellectual Property Organisation) and 19 from South Korea.
"These granted patents are exclusive intellectual property of Suven and are achieved through internal discovery research efforts. Products out of these inventions may be out-licensed at various phases of clinical development like phase-I or phase-II," Suven said.
Suven Life Sciences shares ended 1 per cent higher at Rs 263.35.