Company Watch

VLife hives off research division as NovaLead Pharma

Our News Bureau - Mumbai

The Pune-based drug discovery software company, VLife Sciences, has hived off its research division into a separate entity, named as NovaLead Pharma. All the assets and liabilities of the research division are transferred to NovaLead. The company also announced the completion of the pre-clinical trials of concept studies for its small investigational molecule drug Galnobax for treatment of diabetic wound. Galnobax, the company claims, is evidenced to reduce the time to heal the wounds by 42 percent. If successful in the clinical trials, Galnobax will address the market pie worth $5 billion worldwide.

Supreet Deshpande, Founder and CEO, VLife said, "The clinical trial for Galnobax will begin in the first half of 2008 and we expect it to be ready for distribution by 2011 worldwide." Over the next two years, NovaLead intends to invest more than $20 million in development of Galnobax and the company's lead compound in cancer to address a market potential of over US $10 billion. Currently both the companies have the same top management. However, the new company will have a separate management team, according to Atul Aslekar, Director, NovaLead.

Galnobax's animal results demonstrate its ability to work through multiple mechanisms giving it an edge over biologics used to treat diabetic wound presently, informed Dr Sudhir Kulkarni, Principal Scientist, NovaLead. Galnobax's animal studies establish its ability to grow new cells, induce nitric oxide, induce neoangiogenesis, the increase of flow of blood and nutrients to the wound area, and formation of new tissues, treating the diabetic wound in a holistic manner. Dr Kulkarni claimed that the toxicity profile of Galnobax is encouraging, giving confidence that the drug would meet safety and toxicity norms. NovaLead said that it would announce further discoveries in the months to come in the areas of anti-cancer treatment.