Drug firm Venus Remedies today said it has completed Phase I and II clinical trial for VRP 1620, a molecule that will help in cancer detection.
Phase-III trials will be completed this year only and the product will be ready for launch in early 2012, Venus Remedies said in a filing to the Bombay Stock Exchange (BSE).
The company said the molecule 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 sensitivities of other detection devices such as coloured doppler...," it added.
Venus said the Phase-I trials for the molecule were held at Postgraduate Institute of Medical Education and Research (PGIMER), Chandigarh.
Later, the Phase-II trials were conducted at multiple institutions, including PGIMER and Central India Cancer Institute, Nagpur to document the appropriate dose range of the drug and its efficacy as a diagnostic agent for breast cancer, it added.
The company said the global cancer treatment market is forecast to reach a value of $76.9 billion by 2013.
Shares of Venus Remedies today closed at Rs 220.25 on the BSE, up 1.08% from its previous close.
