Venus Remedies completes Phase I & II clinical trials of cancer detection molecule—Tumatrek

Tumatrek, a unique and cost effective diagnostic tool for cancer can also detect malignancy even through a simple X-ray

Venus Remedies, a research based pharma MNC has successfully completed Phase I & II clinical trial for VRP1620, a cancer detection molecule. The clinical study has shown excellent results in detection of breast cancer. With this drug detection of breast cancer would be possible even with a simple X-ray using dye and the sensitivity of other detection devices such as coloured doppler, PET would be increased several times.

Dr Manu Chaudhary, Research Director of the company said, "VRP 1620 (Tumatrek) is a unique and cost effective diagnostic tool for cancer which can also detect malignancy even through X-ray. It can detect cancer at lesser cost and at primary stage itself." By detection of cancer at early stage it can increase the cure rate. Scientists believe that after Phase III trials of this product VRP-1620 may also help in locating proliferation of cancer site. There are lots of opportunities where the usage of this product can be extrapolated for the benefit of humanity.

A team of scientists from Venus Medicines Research Center (VMRC), R&D wing of the company were working for past couple of years on a novel peptide VRP 1620, which is highly selective ETB receptor agonist and is involved in selective vasodilation in solid tumors. "Phase III will be completed this year only and product will be ready for market launch in early 2012." Dr. Chaudhary added.

Venus Remedies has completed and submitted the report of Phase I & II study on breast cancer patients for VRP 1620 after due permission from IND Committee and DCGI, Govt. of India. This clinical study documented the pharmacokinetic profile and appropriate dose range for the drug. It also described the efficacy for its use as a diagnostic agent for breast cancer. The efficacy was gauged by observing increase in diameter and the corresponding change in resistive index of tumor vessel.

On Tuesday, Venus Remedies ended 1.08% up at Rs220.25 on the Bombay Stock Exchange, while the benchmark Sensex ended 0.20% to 19,545.35.

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Aventis Pharma Q1 net up 40.16% to Rs50.6 crore

Aventis Pharma net profit rose 40.16% to Rs50.6 crore in the first quarter ended 31 March 2011, vis-a-vis Rs36.1 crore during the same period last fiscal

Aventis Pharma net profit rose 40.16% to Rs50.6 crore in the first quarter ended 31 March 2011, vis-a-vis Rs36.1 crore during the same period last fiscal.

In a filing to the Bombay Stock Exchange (BSE), the company's net sales rose to Rs 276.3 crore during the first quarter compared with Rs 251.4 crore in the same period of the previous fiscal.

The board meeting held on 16 February 2011, had recommended a final dividend of Rs23 per share of Rs10 face value for the year ended 31 December 2010. It had also recommended a special one-time dividend of Rs28 per equity share of Rs10.

On Tuesday, Aventis Pharma ended 4.57% up at Rs2,000.75 on the Bombay Stock Exchange, while the benchmark Sensex ended 0.20% to 19,545.35.

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Dhanlaxmi Bank to mobilise Rs1,000 crore by end of June

Dhanlaxmi Bank would be exploring all options to mobilise Rs1,000 crore by the end of the first quarter of this fiscal

Kerala based lender Dhanlaxmi Bank Ltd (DLB) has said it would be exploring all options to mobilise Rs1,000 crore by the end of the first quarter of this fiscal.

The bank has decided to issue about 5.5 crore equity shares of Rs10 each and the process would be completed by the end of the first quarter of FY12 or June-end, bank's executive director, PG Jayakumar said.

On the mode of mobilisation of funds, he said all options like qualified institutional buyers, foreign institutional investors and foreign corporate bodies would be considered.

The option of global depository receipts, American depository receipts and the foreign currency convertible bonds routes would also be considered seriously, he said.

The mobilisation of funds would be subject to the approval of the Foreign Investment Promotion Board ad other appropriate authorities like the RBI, SEBI and the stock exchanges.

Mr Jayakumar said the bank has also decided to double its authorised capital to Rs200 crore from the present Rs100 crore.

He said the bank had also decided to cancel about 32.59 lakh equity shares out of the issued capital of the bank with a view to setting the records right, as they were the shares neither taken nor agreed to be taken by any one when the shares were issued in the 1990s.

Answering another query, the executive director said the premium price for the issue of the shares was not yet fixed and the process for the fixation of price was progressing.

The bank has issued 2.10 crore equity shares with a face value of Rs10 each at a premium of Rs171.30 per shares and expect to get a reasonable price for the proposed issue of shares, he said.

On Tuesday, Dhanalaxmi Bank ended 5.22% down at Rs8.89 on the Bombay Stock Exchange, while the benchmark Sensex ended 0.20% to 19,545.35.

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