Moleac Named Singapore Entrepreneurial Company of the Year at the Frost &
Sullivan Excellence in Healthcare Awards
SINGAPORE, Apr. 21 /PRNewswire-Asia-AsiaNet/ --
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
Moleac is a Singapore-based biopharmaceutical company that dedicates itself
in finding and developing new medicines for the unmet needs of patients
worldwide.
NeuroAid
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.
Contact:
Chan Yiu Lin
+65-9-7655897
news@moleac.net
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