Suven Life Sciences, a biopharmaceutical company based here, has secured a product patent from the European Patent Office (EPO) for its clinical candidate SUVN-502, valid until June 2023.
The product is being developed for central nervous system (CNS) disorders. It can be used in the treatment of cognitive impairments associated with neuro-degenerative disorders such as Alzheimer's disease and attention-deficit hyperactivity disorder or memory loss associated with aging and schizophrenia.
"The potential global market for these symptoms is more than $18 billion people. Getting this patent for our clinical candidate SUVN-502 is more timely and relevant now as it is being used in clinical trials. Securing patent protection for our discoveries enhances the value of our technologies and products substantially," Venkat Jasti, chief executive officer, Suven, stated in a press release.
According to Jasti, the product is an exclusive intellectual property of Suven and has been achieved through internal discovery research efforts. With this, Suven has been granted four European product patents, all of them validated in the 37 member countries of Europe including major markets like Germany, Switzerland, Denmark, Spain, France, the United Kingdom, Italy, Netherlands, Poland, Sweden and Finland.
In addition to this, Suven has obtained four product patents from the US, three from India and two each from Australia, Eurasia, Korea, Mexico, New Zealand and Singapore.