Suven Life Sciences on Tuesday said it has been granted a product patent by Canada and Sri Lanka each for a new chemical entity (NCE) used in treatment of disorders associated with neurodegenerative diseases. These patents are valid through 2034 and 2026, respectively, the company said in a BSE filing.

“We are pleased by the grant of these patents to Suven for our pipeline of molecules in the central nervous system (CNS) arena, which are being developed for cognitive disorders with high unmet medical need with a huge market potential globally,” Suven Life CEO Venkat Jasti said.

The granted claims of patents are being developed as therapeutic agents useful in treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimer’s disease, attention deficient hyperactivity disorder (ADHD), Huntington’s disease, Parkinson’s and schizophrenia, it added.

Shares of Suven Life Sciences rose as much as 6.8 per cent to Rs 284.60 on the NSE. At about 12.40 pm, the shares were quoting off the morning highs at Rs 273.15, up 2.50 per cent.