New Delhi : Drug firm Suven Life Sciences has been granted a patent each by India and South Africa for a drug used in treatment of neuro-degenerative diseases.

In a BSE filing, Suven Life said it has been granted "one product patent from India and one product patent from South Africa corresponding to the New Chemical Entities (NCEs) for treatment of disorders associated with neuro-degenerative diseases".

The patents are valid through 2028 and 2032, respectively, the company added.

Suven Life CEO Venkat Jasti said: "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."

With these new patents, Suven has a total of 18 granted patents from India and 23 from South Africa.

"These granted patents are exclusive intellectual property of Suven and are achieved through internal discovery research efforts. Products out of these inventions may be out-licensed at various phases of clinical development like phase-I or phase-II," Suven said.

The stock of Suven Life Sciences was trading 2.23 per cent up at Rs 209 on BSE in the morning trade.