16
JUN
2010
Nimmagadda Prasad, founder of Matrix Laboratories and Chairman of VANPIC (Hyderabad, India), has joined the TeachAIDS Advisory Board. Besides being a highly successful entrepreneur, Mr. Prasad is known in the social world for his contribution through “Project Hope” in developing cost effective medicines for HIV/AIDS treatment. Mr. Prasad launched  ”Project Hope” in 2003 at Matrix after he had a humbling conversation with a Kenyan minister on a flight from London to South Africa about the dire need to drive down the prices of antiretroviral therapy. At the time, the costs of HIV/AIDS treatment was about $15,000 per patient per year – a number far out of reach for most in the world.

Within one year, Mr. Prasad’s company, Matrix Laboratories, developed breakthrough process technologies that resulted in offering antiretroviral therapy for a mere $180 per patient per year. It was a historical achievement that impacted the lives of many globally. In 2009, on the back of its R&D breakthroughs, Matrix signed two historic agreements with the Clinton Foundation through their Clinton HIV/AIDS Initiative (CHAI) to provide therapy for lower prices for patients suffering from HIV and AIDS. Matrix Laboratories currently provides medication to about 35 percent of HIV/AIDS patients in the developing world. TeachAIDS is delighted to welcome Mr. Prasad to our Advisory Board.