Online BusinessSuven Life presents Alzheimer's drug data in Austria meet
Suven Life Sciences Limited, a Hyderabad-based biopharmaceutical company specialising in central nervous system (CNS) diseases, has presented the clinical Phase-I data for its SUVN-502 drug at the 2009 Alzheimer’s Association International Conference in Vienna, Austria.
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The study was conducted at Basel, Switzerland, under a clinical trial application approved by SwissMedic, the regulatory authority of Switzerland for therapeutic products.
“The Phase-I clinical data has attracted a lot of scientific and commercial interest from global pharma companies. We believe that SUVN-502 has great potential to become a novel treatment for disorders affecting memory and cognition in Alzheimer’s, schizophrenia and other dementia,” Venkat Jasi, chief executive of Suven Life, said in a release on Monday.
The necessary additional tox studies are already in progress to start the Phase-II proof-of-concept study during 2010. The company targets to launch SUVN-502 in the latter part of 2013 or early 2014. Other molecules in the same category under development include GlaxoSmithKline’s molecule, which is at present in Phase-II, said Ramakrishna Nirogi, vice-president (discovery research), Suven Life.
Suven Life Sciences’ scrip is currently trading at Rs 22.10 on the BSE, up 6.76 per cent as against the previous close of Rs 20.70.