Suven Life in talks with global pharma firms for its Alzheimer drug

Hyderabad-based drug company Suven Life Sciences is in talks with global pharma companies for licensing its Alzheimer drug SUVN-502 which has completed phase 1 testing.

Without disclosing names of the global firms, the company said in a filing to BSE, ''The company is in talks with four global pharma majors, who are evincing keen interest about possible out-licensing deals for SUVN-502.''

The company will receive major financial aid in payments and royalties if talks succeed, chairman and CEO Venkat Jasti has said. The size of the deal will be known after due diligence is over sometime in December 2009, he added.

The phase 2 of the tests are likely to commence soon next year.

In April, the company had announced the completion of phase 1 studies of SUVN-502 in healthy volunteers. In June it presented the clinical data of the tests at the 2009 Alzheimer's Association International Conference on Alzheimer's Disease in Vienna, Austria.

SUVN-502 is a potent, safe, highly selective, brain penetrant and orally active drug intended for the symptomatic treatment of Alzheimer's disease and some other brain disorders.