SINGAPORE, April 21 /PRNewswire/ --
Moleac has been named the Singapore Entrepreneurial Company of the Year, by Frost Sullivan. This award recognizes companies that have pushed the boundaries of excellence in the healthcare industry and acknowledges Moleac's outstanding performance in 2008.
The judging panel looked at market performance indicators, including revenue growth, market share, demonstrated leadership, geographical expansion and business/marketing strategies.
Sohini Mitra, Frost Sullivan, said, Moleac has identified a need gap in the stroke recovery process and has adopted an innovative approach to address this void. NeuroAid, the company's flagship product, is derived from Traditional Chinese Medicine (TCM) and helps patients recover functional skills in the post stroke rehabilitation process -- addressing a gap that has not been filled by western medicine.
She adds, The approach of taking from TCM to fill a gap in western treatment options is not only innovative but is also highly efficient in terms of product commercialization. As the efficacy of TCM is proven, the company has been able to develop the NeuroAid with relatively low investments and commercialize it in a relatively short period span of less than 5 years. In the short period since its launch, NeuroAid has become a product with global reach. It has witnessed considerable geographic expansion outside its home country. The success of the product is evident in the dramatic revenue growth between 2006 and 2008 and the aggressive multi-million dollar targets that the company has set for itself in 2009.
David Picard, CEO of Moleac, said, This award is a confirmation of our early successes. Having launched NeuroAid in 2006, we have been focusing our efforts making NeuroAid available to stroke sufferers around the world. NeuroAid is the first medicine to support stroke recovery, and this is a huge unmet need for patients. In 2008, Moleac shipped 3,000 months of treatment of NeuroAid.
I thank our academic partners, who have shown interest in our approach, enabling its clinical development, our investors who have trusted us, and of course my colleagues who have made this venture a success.
Moleac's 2008 achievements include: -- Series A financing of US$3.5 million -- NeuroAid launch in 6 countries -- Starting European operations, to accelerate NeuroAid's availability to patients through Named Patient Program. -- Tripling sales volume
Clinical trials have shown that patients taking NeuroAid within six months from a stroke have 2.4 more chances to achieve a fuller recovery, as published recently in Stroke (March 2009).
Moleac is a Singapore-based biopharmaceutical company that dedicates itself in finding and developing new medicines for the unmet needs of patients worldwide.
NeuroAid is a stroke treatment to help stroke patients achieve faster and better recovery. NeuroAid is derived from 14 components, carefully selected for their efficacy and absence of side effects. It currently reaches patients in over 25 countries.
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