Shasun Pharmaceuticals has entered into the rapidly growing field of
nanotechnology by entering into collaboration with Nanoparticle
Biochem, Inc. (NBI). As part of the collaboration, Shasun and NBI would
enter into a 50:50 JV to be known as Shasun NBI LLC which would proceed
with development of NBI's lead molecule, NBI-29 for prostate cancer
toward FDA approval.

NBI is 5 per cent owned by University of
Missouri, Colombia which is a pioneer in the exciting field of
nanomedicine and boasts of a strong track record with respect to
developing and subsequent out licensing of cancer therapy agents.
Founders of NBI, Dr Kattesh Katti and Dr Raghuraman Kannan, the
principal architects behind University of Missouri's prominence in
nanotechnology and nanomedicine, would be driving the development of
NBI-29 through the JV. It may be noted that University of Missouri,
Colombia is one of the only six labs in the USA that are part of the
NIH driven 'Alliance for Nanotechnology in Cancer'.

NBI-29 is a
radioactive Gold Based Nanoparticle that is administered as a
Brachytherapeutic agent and has shown excellent tumouricidal properties
in early studies against prostate cancer. Prostate cancer (PCA) is the
second leading cause of new cancer cases in men worldwide and the sixth
leading cause of cancer death in men. The PCA market was estimated to
be worth US$5.2 billion in 2008 and is projected to grow to USD 7.7
billion by 2015. NBI-29, given its mechanism of action, is also
expected to have a strong therapeutic effect upon other types of cancer
such as breast cancer, lung cancer, oral cancer, etc., and thereby
represents a platform technology with significant commercial potential
beyond prostate cancer.

Commenting on the collaboration, Vimal
Kumar Shankarlal, managing director of Shasun said 'The tie-up with NBI
and thereby with the University of Missouri at Colombia puts us in a
dominant position in the vast expanding and exciting area of
nanomedicine. We would have the best minds in nanomedicine working for
us and are confident of creating significant Intellectual Property with
wide ranging applications in future'

Commenting on the
collaboration, Henry White, CEO of NBI said 'NBI is excited by the
opportunity to join efforts with Shasun Pharmaceuticals in the
development of a new nanoparticle-based pharmaceutical drug for use as
a prostate cancer therapy agent.'