Shasun Pharmaceuticals Ltd is developing injectable radioactive nanoparticles to treat solid cancer to mark its entry into nanotechnology. The company, one of the largest producers of pain-killer drug Ibuprofen with more than 50 per cent of the global market share, is expected to commence clinical trials on the drug candidate within a year.
It has entered into a joint venture with the Nanoparticle Biochem, Inc (NBI), partly owned by the University of Missouri, Colombia, in August last year to develop the latter's lead molecule NBI-29 to treat prostate cancer. The nanotech product would be developed under the 50:50 JV company Shasun NBI LLC.
“The multi-centric, multi-national clinical trial for the injectible treatment of solid cancer would be conducted by Shasun starting from India within a year,” said S Abhayakumar, director (Operations, Strategy,Technical,Operations,HR, and Marketing (STOHRM)), Shasun Pharmaceuticals.
Shasun will have the complete rights on patent, marketing and manufacturing of the product. The drug candidate is undergoing animal studies, at present.
“We are discussing with our partner to set up a manufacturing plant in Chennai for the product, once the studies complete successfully,” he added. However, he refused to reveal the investment involved.
The gold particles would be dipped into a nuclear reactor and coat it with a drug to prepare the injectable form, which could be directly inducted to the solid tumour. It would help in treating the cancer right at the place where it exists, he said.
Shasun is currently into manufacturing of Ibuprofen and its derivatives, ranitidine and nizatidine catering to the global market.
The government today said it has granted Maharatna status to Bharat Heavy Electricals Ltd and Gas Authority of India Ltd.