Suven Life Sciences rose 4.97% to Rs 247.20 at 11:16 IST on BSE after the company said it secured four product patents for their New Chemical Entities' in China, Mexico and South Africa.
The company made the announcement during trading hours today, 13 July 2015.
Meanwhile, the BSE Sensex was down 0.66 points to 27,660.74.
On BSE, so far 2.41 lakh shares were traded in the counter, compared with an average volume of 1.82 lakh shares in the past one quarter.
The stock hit a high of Rs 251.90 and a low of Rs 233.80 so far during the day. The stock hit a record high of Rs 338.50 on 15 April 2015. The stock hit a 52-week low of Rs 101.55 on 11 July 2014.
The stock had underperformed the market over the past one month till 10 July 2015, falling 2.34% compared with 3.06% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 25.89% as against Sensex's 4.22% fall.
The small-cap company has an equity capital of Rs 12.73 crore. Face value per share is Re 1.
Suven Life Sciences (Suven) announced that they secured patents in China (CN103443093) and South Africa (2013/01143, 2013/06328) to their New Chemical Entities (NCE's) for CNS therapy through mechanism of action - H3 Inverse agonist and these patents are valid until 2031, 2030 and 2031 respectively. The granted claims of the patent include the class of selective H3 ligands discovered by Suven and are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders.
Suven also secured a patent for their NCE in Mexico (326651) and the granted claims of this patent include the class of selective alpha-4-beta-2 compounds discovered by Suven and are being developed as therapeutic agents for major depressive disorder (MDD) and the patent is valid through 2030.
With these new patents, Suven has a total of sixteen (16) granted patents from China, nineteen (19) granted patents from Mexico and twenty two (22) granted patents from South Africa. 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 Sciences' net profit declined 47.7% to Rs 16.95 crore on 13.3% decline in total income to Rs 114.47 crore in Q4 March 2015 over Q4 March 2014.
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. The company has eleven (11) internally-discovered therapeutic drug candidates currently in pre-clinical stage of development targeting conditions such as ADHD, dementia, depression, Huntington's disease, Parkinson's disease and obesity in addition to Phase 2 ready developmental candidate SUVN-502 for and Phase1 candidate SUVNG3031 for Alzheimer's disease and Schizophrenia.
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