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Company Name : NovaLead Pharma Pvt. Ltd.

Friday, October 13, 2017 3:55PM IST (10:25AM GMT)

NovaLead Pharma Receives Frost & Sullivan's Indian Drug Repurposing Technology Innovation Leadership Award 2017

Mumbai, Maharashtra, India

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  • Mr.Mr. Supreet Deshpande, MD & CEO, NovaLead Pharma receiving '2017 India Drug Repurposing Technology Innovation Leadership Award' from Mr. Nakul Subramanyam,Head of Corporate Real Estate Management, Morgan Stanley India in the presence of Mr. Raghavendra Rao , Sr.Vice President, Frost & Sullivan and Mr. Atul Aslekar, Direcor, NovaLead Pharma Pvt. Ltd.
Frost & Sullivan bestows 2017 India Drug Repurposing Technology Innovation Leadership Award to NovaLead Pharma Pvt. Ltd. for its proprietary technology platform for drug repurposing to build a promising pipeline of repositioned drug candidates. The award was received by NovaLead Pharma’s CEO Mr. Supreet Deshpande in presence of distinguished business and industry leaders in a glittering function held on 05 Oct 2017 at ITC Maratha, Mumbai. In 2015, NovaLead Pharma had received the Best Innovation Company BIRAC award from Department of Biotechnology, Government of India.

“NovaLead Pharma Pvt. Ltd. is building a promising pipeline of repositioned drugs by precisely developing and successfully deploying its proprietary technology platform. With the introduction of Galnobax, a generic intravenous drug for diabetic foot ulcer, NovaLead is likely to deliver promising and sustained efficacy, better safety, higher patient convenience at an affordable cost,” mentioned Mr. Vipul Verma, Best Practices Middle East, North Africa & South Asia Frost & Sullivan.

Talking at the occasion, Mr. Deshpande said "It is an honor to receive this recognition from Frost & Sullivan. Being chosen by distinguished jury and globally renowned market research firm, this award is a reaffirmation that NovaLead’s technology approach is unique and its research methodology efficient and cost effective at the same time. It is my honor and privilege to receive this award on behalf of entire NovaLead team, collaborators and shareholders."

About NovaLead Pharma Pvt. Ltd.

NovaLead is a drug discovery research company focused on discovering new indications for generic drugs. Enabled by proprietary technology platform, NovaLead's drug repositioning approach is targeted at finding new biological targets for generic drugs, thereby discovering new indication possibilities. This a is distinctly differentiated from conventional line extension strategies. NovaLead's discovery pipeline has an addressable market estimated at over US$ 10 billion p.a. The lead candidate in the pipeline is Galnobax®, which is a topical gel for the treatment of hard to heal Diabetic Foot Ulcer (DFU). The recently concluded global Phase – I / II clinical trial has demonstrated that Galnobax® has successfully met both primary and secondary endpoints for safety and efficacy. Given the limitations of existing therapies for DFU, Galnobax® is looked at as a ray of hope by millions of DFU patients worldwide. The commercial model of NovaLead is to out-license / partner its discoveries after first human proof of concept. Headquartered in Pune - India, NovaLead is funded by top-tier venture investors from India and Europe.

About Frost & Sullivan

Frost & Sullivan is a leading global strategy consulting company, headquartered in the US. Established in 1961, in New York City, the company today has 40+ offices across the globe. The company has a domain knowledge approach to strategy consulting and has been working closely with multiple family run businesses/corporate groups, governments and the public sector in India, the KSA, and the GCC to develop their long-term strategy and identify specific areas of business opportunity.

About the 2017 Frost & Sullivan Best Practices Awards

Frost & Sullivan Awards recognises companies across regional and global markets for outstanding achievement and performance in a range of markets for superior leadership, technological innovation, customer service, strategic product development, etc.

Click here for Media Contact Details

Kamalakar Jadhav, VP, Technology, NovaLead Pharma Pvt. Ltd., +91 (20) 64100335, kjadhav@novaleadpharma.com

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News Summary

Frost & Sullivan bestows 2017 India Drug Repurposing Technology Innovation Leadership Award to NovaLead Pharma Pvt. Ltd. for its proprietary technology platform for drug repurposing to build a promising pipeline of repositioned drug candidates.