The Hyderabad-based pharmaceutical firm Suven Life Sciences announced on May 13 that the firm has been granted patents in Europe and Hong Kong for a drug used in the treatment of neurodegenerative diseases like Alzheimer's, Schizophrenia and Parkinson's.
The firm said during the trading hours at the Bombay Stock Exchange, "One product patent from Europe and one product patent from Hong Kong corresponding to the new chemical entities for the treatment of disorders associated with neurodegenerative diseases".
Suven has a total of 16 granted patents from Europe and 17 from Hong Kong, including these two patents.
Venkat Jasti, CEO of Suven Life Sciences, said, "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 medial need with huge market potential globally."
The granted patents are exclusive intellectual property of Suven and the products out of these inventions may be out-licensed at various phases of clinical development.