Drug firm Suven Life Sciences today said it has received four product patents in Australia and New Zealand for its new chemical entities (NCEs), which could be used for treating various central nervous disorders.
"The four product patents, three from Australia and one from New Zealand... Are valid through 2027," Suven Life Sciences said in a filing to the Bombay Stock Exchange (BSE).
The company has received approval for molecules that could be used in the treatment of neurodegenerative disorders like Parkinson's, Alzheimer's and schizophrenia, it added.
Products developed out of these molecules may be out-licenced at various phases of clinical research, the company said.
"We are very pleased by the grant of these patents to Suven for our pipeline of molecules in CNS arena that are being developed for cognitive disorders, which has an estimated USD 30 billion market potential globally," Suven CEO Venkat Jasti said.
With these new patents, the company now has eleven patents from Australia and twelve from New Zealand for the NCEs, it said.
Shares of Suven Life Sciences were being quoted at Rs 17.45 apiece in early afternoon trade on the BSE today, up 3.87% from their previous close.