Suven Life Sciences has several molecules in the pipeline and we will be investing more, said Venkat Jasti, chairman and CEO of the company, adding that "the door is not shut on 502 yet".
The company has missed its target for SUVN 502 — a molecule which the company was banking on for Alzheimer's and out licensing opportunity, failing to meet its pre-specified primary endpoint in proof of concept (PoC) phase two study.
"We have spent about $40 million on this alone and we will be spending more money on the pipeline on other molecules we have and the door is not shut on 502 yet," said Jasti in an interview with CNBC-TV18. However, Jasti is not sure as to what is the way forward from here.
“This is disappointing for us and also for the people affected by Alzheimer's disease. We thought this will make it to the next level based on the safety data we have for patients but unfortunately, it did not meet the primary endpoint,” he added.
“We are going through the data and could see some silver lining there... we got that on Saturday so we are still going through that and it will take some time before we arrive at what the next step is going to be,” Jasti said.
“Meanwhile we are trying to prepare and submit the data at the clinical trials on Alzheimer's disease conference being held at San Diego next week. Post that we will have a very good idea. Based on these trends we need to go and check on the regulatory authority to see whether we can focus this compound to the other parts of the behavioural psychological symptoms,” Jasti further added.