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For developing drug for heel pain

SCIENTIFIC TIE-UP: Mr Raymond Bachand (centre), Minister of Economic Development, Innovation & Export Trade, Quebec, Canada, with Dr Swati Piramal, Director, Strategic Alliances & Communications, Nicholas Piramal India Ltd, and Mr Joseph Bennarosh, Chairman, Biosyntech, at a CII meeting in Mumbai on Monday. - Paul Noronha

Mumbai , Nov. 20

Nicholas Piramal India Ltd has entered into a scientific collaboration agreement with BioSyntech Inc.

The signing of the agreement was part of a trade delegation's visit from Quebec, led by Mr Raymond Bachand, the Minister of Economic Development, Innovation & Export Trade, Quebec, Canada.

The collaboration centres on the drug `BST-InPod', which is being developed to alleviate chronic heel pain. The agreement will seek to generate greater volumes of clinical data at a cheaper cost by conducting the trials in India.

"There are more patients in India [than in Canada], which should accelerate development," Dr Swati Piramal, Director, Strategic Alliances & Communications for Nicholas Piramal, said.

Chronic heel pain, caused by atrophy of calcaneal fatty pads (the natural cushions in the heel that act as shock-absorbers), is a complaint voiced by 14 per cent of the adult population according to the American College of Foot and Ankle Surgeons, which also suspects that millions more silently cope with it.

The BioSyntech Web site states that the affliction can strike as early an age as 30, "leading to walking discomfort and pain and eventually disabling pathologies".

BioSyntech was established in 1995 and has traded on the TSX Venture from 2004. The company specialises in creating and developing regenerative medicine (tissue repair), and therapeutic delivery.

More Stories on : Alliances & Joint Ventures | Pharmaceuticals | Health

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