The Madras University and the Trichy-based Bharathidasan University have planned a joint venture with the Chennai based ABL Biotechnologies Ltd. to validate, manufacture and market a drug developed by the universities for treating HIV, and the viruses causing Herpes Simplex and Hepatitis B. A memorandum of understanding was just signed in this regard and the drug will be in the market within the next three years.
The MoU was signed on September 9 at the Madras University between Dr. S P Thyagarajan, vice chancellor of Madras University, C. Thangamuthu, vice chancellor of the Bharathidasan University and K O Issac, managing director of ABL.
It may be noted that Pharmabiz had reported last week about the drug development, a many years long collaborative venture by the Department of Microbiology of the Madras University headed by Dr. Thyagarajan and by G. Subramanian, former director of National Facility for Marine Cyanobacteria, Bharathidasan University.
The drug is from a species of marine algae Phormodium, which is found to have anti-viral properties against the identified viruses.
ABL Biotech handed over Rs 5 lakh as the first installment for transferring the technology to the company. Another Rs 5 lakh would be given after the vivo-toxicology studies before marketing the drug. Further, the universities would share the royalties given by the company once the drug goes to the commercialization stage, as per the MoU.
According to Dr. Thyagarajan, the JV would commercialize the drug within the next three years, and it depends on the infrastructure and the work by the scientists. According to Thangamuthu, the JV would try to offer the drug at cheaper rates and it would throw open many new avenues for advanced research.