Suven Life Sciences Ltd will be raising $30 million to meet its research and development expenses and for a dedicated drug discovery centre. “We have got the necessary approval to raise about $30 million at the AGM held on September 27,” Mr Venkat Jasti, Vice-Chairman and Chief Executive Officer, Suven Life Sciences, told here on Tuesday. Various options including FCCBs, ADRs and GDRs were being explored, he said, adding: “ ;The process will be completed before the end of current fiscal year.” The company would be using part of the proceeds for conducting clinical trials of its New Chemical Entities (NCEs) and on R&D. “We are planning to start the clinical trials of Suven 502 (for treatment of Alzheimer’s) in the last week of this month in Switzerland,” Mr Jasti said. The company, which has been aggressive on NCE development, had filed for 29 patents and had secured three patents (valid in 15 countries) in the Central Nervous System (CNS) disorders segment. In line with its focus on DDDSS, Suven would be setting up a $25-million green field centre for drug research. “The centre will act as a nodal point for drug discovery and likely to be operational from 2009,” Mr Jasti said. —
1) N.T.Rama Rao 2) Akkineni Nageswara Rao 3) Gattamaneni Krishna 4) Sobhan Babu (Uppu Sobhana Chalapathi Rao) 5) Gummadi Venkatwsara Rao 6) Maganti Murali Mohan 7) Manchu Mohan Babu 8) Kongara Jaggayya 9) Giri babu (Yerra Seshagiri Rao) 10) Sridhar Surapaneni 11) Madala Ranga rao 12) Nandamuri Bala Krishna 13) SaiChand Tripuraneni 14) Akkineni Nagarjuna 15) Daggubati Venkatesh 16) Gadde Rajendra Prasad 17) Raja Sekhar (Kasukurthi) 18) Daggubati Raja 19) Bhagya Raj 20) Nandamuri Hari Krishna 21) Veeramachineni Jagapathi Babu 22) Meka Srikanth 23) Vadde Naveen 24) Tottempudi Venu 25) Gattamaneni Mahesh Babu 26) Junior. N.T.R 27) Sivaji Sontineni 28) Nandamuri Taraka Ratna 29) Nandamuri Kalyanaram 30) Yarlagadda Sumanth 31) Tottempudi Gopi Chand 32) Manchu Vishnu Vardhan 33) Manchu Manoj 34) Edara Naresh 35) Edara Aryan Rajesh 36) Ram Pothineni 37) Myneni Sarvanand 38) Daggubati Rana 39) Akkineni Naga Chaitanya 40) Nani (Ghanta Naveen Kum...
Comments