Updated on 15 March 2013
After a fruitful first year, Novo Informatics tied up with a US-based top research center to provide consultancy which has led the company to discover novel compounds using its technology. The technology was also awarded by a consortium involving the Indian Institute of Management, Ahmedabad, Department of Science and Technology and Economic Times under Power of Ideas 2012. The company, in the same year, also collaborated to stretch the pipeline from compound designing to validations.
Another initiative is the R&D on type II diabetes to discover a lead molecule. The project is funded by the DBT. An oncology platform is also in the pipeline and the company is looking for partners to help in the validation process of the molecules.
Novo Informatics' technology platform is built on computational biology models that help pharmaceutical companies and research academics in discovering lead molecule against selected targets. Explains Mr Kapoor, "One of our technologies focuses on target modeling (hybrid model) and refinement, and another one is built on modules such as v-HTS and compound optimization. Our USP is a developed compound library, especially designed for selected targets. In addition, modules such as ab-inito protein folding and automated compound optimization would help us stand apart in the market in terms of innovation."
The company hopes to come out with its first product by February 2014. "Our product development is as per our time-line and soon we will launch our first technology that would be on the lines of computational chemistry," says Mr Kapoor. Novo Informatics is now looking to partner with some information technology companies to help finish the product that should take around three-to-four months.
The price, he says, is likely to be below $5,520 (Rs 3 lakh). "Our competitor products are priced at around $70,000 (Rs 40 lakh). Our product will be economical for customers," he adds. The company is targeting academic institutions to sell its product and Mr Kapoor expects to break-even within two to three years.