Suven Life gains on securing two product patents for NCEs in Canada and Hong Kong

Suven Life Sciences is currently trading at Rs. 78.00, up by 0.55 points or 0.71% from its previous closing of Rs. 77.45 on the BSE. The scrip opened at Rs. 78.00 and has touched a high and low of Rs. 79.20 and Rs. 77.30 respectively. So far 161170 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 83.40 on 12-Nov-2013 and a 52 week low of Rs. 22.00 on 13-Jun-2013. Last one week high and low of the scrip stood at Rs. 79.20 and Rs. 72.70 respectively. The current market cap of the company is Rs. 911.26 crore. The promoters holding in the company stood at 64.76% while Institutions and Non-Institutions held 0.89% and 34.35% respectively. Suven Life Sciences (Suven) has secured two product patents for New Chemical Entities (NCEs) in Hong Kong and Canada for the treatment of disorders associated with Neurodegenerative diseases and these patents are valid through 2023 and 2029 respectively. The granted claims of the patents include the class of selective 5-HT compounds discovered by Suven and are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimer’s disease, Attention deficient hyperactivity disorder (ADHD), Huntington’s disease, Parkinson and Schizophrenia. With these new patents, the company has a total of fifteen granted patents from Canada and fourteen product patents from Hong Kong. These granted patents are exclusive intellectual property of Suven and are achieved through the internal discovery research efforts. Products out of these inventions may be out-licensed at various phases of clinical development like at Phase-I or Phase-II. Suven Life Science is a biopharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products, which are first in class or best in class CNS therapies through the use of GPCR targets.