Hyderabad-based Pharmaceutical firm Suven Life Sciences has received European product patent for its clinical candidate SUVN-502, which will be valid till June 2023.

European Patent Office (EPO) granted the product patent -- EP 1581492 -- which is an exclusive intellectual property (IP) of Suven and was achieved through the internal discovery research efforts.

The said drug candidate is being developed for treatment of neuro-generative disorders like Alzheimer's disease, attention deficit hyperactivity disorder, memory impairment associated with ageing and Schizophrenia.

With the latest one, Suven has four European product patents and all of them have been validated in all the 37 member countries of Europe including major markets like Germany, Switzerland, Denmark, Spain, France, United Kingdom, Italy, Netherlands, Poland, Sweden and Finland.

The stock of the company closed today at Rs 36 on BSE, up 2% compared with previous close of Rs 35.45. The stock made an intraday high of Rs 37.70 and low of Rs 35.55.