Suven Life Sciences on Friday said it has been granted a product patent by New Zealand and Sri Lanka corresponding to a new chemical entity (NCE) for the treatment of disorders associated with neurodegenerative diseases. These patents are valid till 2034 and 2031, respectively, the company said in a BSE filing.

“We are very pleased by the grant of these patents to Suven for our pipeline of molecules in the 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 compounds are being developed as therapeutic agents useful in the 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.

Suven Life Sciences shares were trading 2.38 per cent up at Rs 313.80 apiece on BSE.