By IANS
Bangalore : India’s premier biotechnology firm Biocon Ltd won the “product of the year” award 2007 — instituted by BioSpectrum magazine of CyberMedia group — for its novel cancer drug.
The publications group said in a statement here Monday the antibody-based drug — BIOMAb EGFR — was chosen for the award on the basis of its consistent response in clinical trials in India and worldwide.
“Biocon’s drug is the first of its kind to be clinically developed in India,” the statement said.
With the drug, launched in the global market in September 2006, the Bangalore-based firm forayed into proprietary immuno-therapeutics and joined the exclusive league of monoclonal antibody developers worldwide.
Immuno-therapeutics is a new class of drugs that address unmet needs in oncology (study of cancer) and autoimmune diseases such as rheumatoid arthritis, psoriasis, and lupus.
Immuno-therapy is the most recent form of treating such diseases where the use of antibodies and vaccines play a key role in disease management.
Gujarat was chosen for the “state of the year” award by the independent jury for promoting biotechnology and attracting substantial investments in the state.
Shanta Biotechnics managing director Varaprasad Reddy was selected for the “person of the year” award for pioneering a biotechnology wave and making a societal impact by launching lifesaving vaccines and therapeutics at affordable cost.
“The Hyderabad-based Shantha Biotechnics is credited with producing India’s first genetically engineered product Shanvac-B, a vaccine against dreaded infection Hepatitis B. Reddy’s firm produced the vaccine in just four years and offered it at one-tenth the price of an imported product, thus making it available to millions of Indians. The Padma Bhushan award winner also initiated a mass immunisation drive,” the statement noted.
Strand Life Sciences co-founder Vijay Chandru was named as the “entrepreneur of the year” for his entrepreneurship and co-inventing the novel hand-held computer called Simputer.
The “lifetime achievement award” went to Pushpa Mittra Bhargava, former director of Hyderabad-based Centre for Cellular and Molecular Biology (CCMB) for his singular contribution to the development of life sciences.
A recipient of about 100 national and international awards, including Padma Bhushan, Bhargava has been instrumental in developing biotechnology in the sub-continent over the last four decades.
The five-member jury, headed by Rasi Seeds Managing Director M. Ramaswami, comprised Avesthagen Founder and CEO Viloo Morawalla-Patel, Rajiv Gandhi Centre of Biotechnology Director M. Radhakrishnan Pillai, Serum Institute Senior Director Satish D. Ravetkar and Metahalix Managing Director K.K. Narayanan.
The awards will be presented to the winners in India’s silicon hub Dec 21.
India’s biotechnology exports grew by 47 percent to Rs.49.4 billion ($1.25 billion) in the last fiscal (2006-07), while the industry posted a combined revenue of Rs.85 billion ($2.16 billion).
The top three firms in revenue growth are Indian-origin, namely, Pune-based Serum Institute (Rs.9.5 billion), Biocon (Rs.8.2 billion) and New Delhi-based Panacea Biotec (Rs.6 billion).