Venus Remedies has been awarded gold medal by DST-Lockheed Martin India Innovation Growth Program – 2013 for Elores, a drug designed to fight multi drug resistant ESBL and MBL producing gram negative ICU infections to which other antibiotics failed to respond. Dr Manu Chaudhary, Director Research, Venus Medicine Research Centre received the award from Montek Singh Ahluwalia, Deputy Chairman, Planning Commission of India, in an award ceremony recently held at FICCI office in New Delhi.
More than 1500 technologies took part in the programme this year. Participants were adjudged under various parameters like novelty, innovativeness, technical strength and commercialisation potential by a team of experts from Stanford Business School, US, IC2 University of Texas, Austin, US, Lockheed Martin foundation in collaboration with DST under Indo-US joint science and technology innovation programme, 2013.
Chaudhary on receiving the award said, “The award from DST-Lockheed Martin Foundation in the first year of launch of Elores is a matter of great pride for the team VMRC. Gold medal is a recognition of VMRC’s innovations, its credibility and competitive edge in research.”
Elores is capable of addressing multi drug resistant ESBL/MBL producing gram negative infections which constitute 25 per cent of this market creating an opportunity of more than 11 billion in coming five to six years. Elores has patent for product, method of treatment and use protected from 45 countries including the US, India, Australia and Europe. Elores was launched in Indian market in early this year and has received tremendous response from medical fraternity.
Venus has already filed CTD for this product in Europe, and is planning to take this product to other International markets with the support of Lockheed Martin Foundation, DST, FICCI and all the associated bodies. With its ability to reduce the cost of therapy to patient to >50 per cent and offers more than 30 per cent faster cure rate besides improving hospital ecology. Elores can become a block buster product in times to come.
EP News Bureau – Mumbai