Suven Life Sciences, a Drug Discovery and development company, has finished the phase I clinical trial for its new molecule, SUVN 502 in healthy volunteers.

In a filing, Suven Life Sciences said, “The company has completed its Phase I multiple ascending dose study of SUVN-502 in healthy volunteers.”

SUVN-502 is a novel, highly selective and orally active antagonist at a central nervous system serotonin receptor site 5-HT6, intended for the treatment of cognitive disorders such as Alzheimer’s and Schizophrenia.

It may be noted that phase I clinical test is carried out in order to check the safety of a molecule.

Moreover, it is the first time when the molecule is tested on human after completing the tests on animals.

The company said that the outcomes from the phase I programme would be presented at the international conference on Alzhiemer's disease at Vienna, Austria in July 2009.

Suven is also in the process of starting the phase II clinical examinations during the last quarter of this year (2009).

Mr. Venkat Jasti, chief executive officer, Suven Life Sciences said, “We are extremely glad with the outcome of the Phase-I trials of SUVN-502. This is a significant development for our organisation as this molecule is our first invention and has a potential to be first-in-class and best in class for the treatment of Alzheimer's disease and other disorders of memory.”

Shares of the company, on Thursday (April 09), closed at Rs 16.92, up 20.1%, on the Bombay Stock Exchange (BSE). The total volume of the shares traded stood at 1,107,048. The share price has seen a 52-week high of Rs 39.85 and a low of Rs 9.40 on BSE.