WeInnovate Biosolutions

Founded by Milind Choudhari

 

THE CHALLENGE

According to the World Health Organization’s ‘The World Health Statistics 2012’ report, there will be 70 million diabetic patients in India by 2025. Estimates have shown that up to 25% of patients with diabetes develop a foot ulcer, and approximately 56% of diabetic ulcerations will become infected and 20% of such patients will have to undergo lower limb amputations. Therefore, there is an increasing need for a low cost, comprehensive treatment of diabetic ulcerations, which cannot be treated using normal wound treatments such as bandaging.

THE IDEA 

WeInnovate Biosolutions is trying to address this gap by proposing a novel formulation which can be used in gel form or with wound closure materials (such as bandages and sutures) for rapid wound healing. HEALRAP, the company’s first registered innovative product, is a novel organic and inorganic nano-formulation that demonstrates three-way action: It helps subside the inflammation, provides antimicrobial action, and promotes cell proliferation for rapid wound healing. The most innovative aspect of the formulation is that it targets the root cause that makes a wound critical, helping restore blood, oxygen, and nutrition flow to the wound ensuring rapid healing. Another unique selling point of this formulation is that it is inorganic in nature, which means that the problem of antibiotic resistance is circumvented.

FUNDING  

 The results of the initial work based on preliminary animal studies surpassed expectations and served as a springboard for further funding. In 2016, Venture Center invested Rs. 50 Lakhs under the NSTEDB-SSS scheme. WeInnovate Biosolutions received a matching fund of Rs. 50 Lakhs from BIRAC under its SIBRI scheme , and they also went on to receive a further assistance of Rs. 10 Lakh from IIM A. This money is helping further the progress of the project as WeInnovate is now looking to move ahead with preclinical investigative studies for two its product, HealRap, over the next 2 years. At the end of these 2 years, they are looking to be ready for clinical trials for which WeInnovate is looking forward to series A investment.

LOOKING AHEAD

WeInnovate Biosolutions has just launched an all -purpose surface sterilization spray for hospital and industry settings (Silvoclean). The formulation is made up of a proprietary formula consisting of silver nanoparticles, well known for its antimicrobial effects. The formulation has been shown to be effective against bacteria, spores, and virus, making it twice as effective as current sterilization sprays, while being  10 times safer than current surface sterilization agents. The formulation is designed have a longer residence time on surfaces, saving you from repetitive application.

MARKET OPPORTUNITY

WeInnovate Biosolutions provides better and cost effective products that have potential to replace existing conventional products in a growing market worldwide worth 7.7 billion US$.