Sami Labs Receives FICCI Award

BANGALORE, IndiaThe Federation of Indian Chambers of Commerce and Industry (FICCI) honored Sami Labs Limited with its 2013 Product Innovator of the Year award for the proprietary product OLEPENT®.

Sami Labs Limited is the manufacturing and research and development (R&D) arm of Sabinsa Corporation.

OLEPENT®, the triterpene-pentapeptide complex with cosmeceutical properties created Sami Labs Limited, emerged the winner in the Fine Chemicals Category. OLEPENT® is expected to be launched by Sabinsa later this year and will be licensed under exclusivity.

Sabinsa and Sami Labs' founder and managing director, Muhammed Majeed, Ph.D., received the honor at a ceremony organized as part of the INDIA CHEM Gujarat 2013 Conference on October 24 to the 26 at the Mahatma Gandhi Mandir, Gandhinagar, Gujarat, India. The conference focused on the scientific developments in the areas of specialty, fine, argo, personal care chemicals, dyes, colorants and pigments.

"I am honored to accept this award on behalf of Sami Labs Limited in the area of cosmeceutical peptides," Majeed said. "The product is the result of years of research combining the strengths of this group in natural products and peptides. OLEPENT® is a breakthrough commercial cosemceutical peptide that is stable, better absorbed into the skin and has proven cosmeceutical properties."

The product was acknowledged by the U.S. Patent Office and was awarded a merit certificate by the Karnataka State Innovation Council for filing a corresponding Indian Patent application.