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26 Nov, 2010, 03.10AM, Peerzada Abrar,ET Bureau
$1-bn biz in new molecule
Bangalore. India. Buoyed by the success of discovering a novel molecule for the treatment of type II diabetes, pharma research start-up Advinus Therapeutics is seeking buyers for the molecule that may generate over $1-billion business.
“The deal structure will have a price as well as royalty and success-based milestone payment as the molecule progresses. We are hoping this would be a $1-billion-dollar drug,” said Dr Rashmi Barbhaiya, managing director, chief executive and co-founder of Advinus Therapeutics.
Advinus was formed by a group of entrepreneurs and scientists lead by Dr Barbhaiya and Dr Kasim Mookhtiar in 2005, after it was hived off from agri-products firm Rallis India . By 2017, the firm plans a product to treat type II diabetes that results from insulin resistance.
The molecule is an activator of glucokinase, an enzyme that regulates glucose balance and insulin secretion in the body. This breakthrough comes at a time when other molecules not only activate glucokinase in the liver, but in the pancreas as well. This leads to hypoglycemia — a state of lower-than-normal level of blood glucose.
“That is a double whammy and not an acceptable side-effect. Our molecule will selectively work only on liver and will not go to pancreas,” said Dr Barbhaiya, former Ranbaxy R&D president with over two decades of experience in pharmaceutical research.
The team of scientists at Advinus have also discovered molecules to treat Kala-azar, or Black Fever, a chronic and potentially fatal parasitic disease affecting the internal organs — particularly the liver, spleen, bone marrow and lymph.
Advinus has around 490 people, most of whom are researchers. It is now seeking a funding of Rs 200-300 crore from the Tatas and PE firms to leverage its research and development work. It plans to focus on new areas such as geriatric and central nervous system diseases.
$1-bn biz in new molecule
Bangalore. India. Buoyed by the success of discovering a novel molecule for the treatment of type II diabetes, pharma research start-up Advinus Therapeutics is seeking buyers for the molecule that may generate over $1-billion business.
“The deal structure will have a price as well as royalty and success-based milestone payment as the molecule progresses. We are hoping this would be a $1-billion-dollar drug,” said Dr Rashmi Barbhaiya, managing director, chief executive and co-founder of Advinus Therapeutics.
Advinus was formed by a group of entrepreneurs and scientists lead by Dr Barbhaiya and Dr Kasim Mookhtiar in 2005, after it was hived off from agri-products firm Rallis India . By 2017, the firm plans a product to treat type II diabetes that results from insulin resistance.
The molecule is an activator of glucokinase, an enzyme that regulates glucose balance and insulin secretion in the body. This breakthrough comes at a time when other molecules not only activate glucokinase in the liver, but in the pancreas as well. This leads to hypoglycemia — a state of lower-than-normal level of blood glucose.
“That is a double whammy and not an acceptable side-effect. Our molecule will selectively work only on liver and will not go to pancreas,” said Dr Barbhaiya, former Ranbaxy R&D president with over two decades of experience in pharmaceutical research.
The team of scientists at Advinus have also discovered molecules to treat Kala-azar, or Black Fever, a chronic and potentially fatal parasitic disease affecting the internal organs — particularly the liver, spleen, bone marrow and lymph.
Advinus has around 490 people, most of whom are researchers. It is now seeking a funding of Rs 200-300 crore from the Tatas and PE firms to leverage its research and development work. It plans to focus on new areas such as geriatric and central nervous system diseases.
