Suven Life's Alzheimer's drug candidate granted patents in 9 markets

Biopharmaceutical firm Suven Life Sciences today said its clinical candidate for Alzheimer's disease has secured product patent in nine key markets, including India, Mexico, South Africa, Singapore, New Zealand, Korea, Eurasia, Australia and Europe.

Suven said the product patents for SUVN-502 in all these countries is valid till June 2023.

Suven completed phase I trials for SUVN-502, a lead compound intended for the symptomatic treatment of Alzheimer's disease and other disorders of memory and cognition like attention deficient hyperactivity, Parkinson, Schizophrenia, in April 2009.

The company is planning to initiate the clinical Phase-II `proof of concept' studies in 2010 and expects to launch SUVN-502-based drug in later 2013 or in early 2014.

Suven Life Sciences, which entered into drug discovery collaboration with Eli Lilly and Company in March 2008 to develop candidates for the treatment of central nervous system (CNS) disorders, also received its first milestone payment from the US company in early September.

Under the terms of the agreement, Lilly will undertake the clinical development of the selected candidates and commercialisation of the product globally. Lilly will own the candidates developed while Suven would receive ongoing research payments and pre-clinical milestones.

With operations in the US, Europe and Asia, including India, Suven Life Sciences designs, manufactures and supplies bulk active, drug intermediates and fine chemicals to the life science industry.

The company reported a 36.3 per cent rise in its net profit to Rs2.18 crore on a 0.6 per cent rise in net sales to Rs31.02 crore in April-June 2009.