Sproxil Receives Prestigious 'World Business and Development Award'

Sproxil Receives Prestigious ‘World Business and Development Award’ at United Nations Conference on Sustainable Development

Drug Anti-Counterfeit Solution Provider One of 11 Global Companies Honored

Cambridge, MA (June 20, 2012) – Sproxil, a provider of world-class brand protection services in emerging markets, has been named a recipient of this year’s World Business and Development Award (WBDA) for their efforts in improving the lives of people in some of the world’s most disadvantaged communities. With the 2012 awards attracting 115 applicants from 38 countries, Sproxil is one of just eleven companies to be honored with this prestigious award at this year’s United Nations Conference on Sustainable Development (Rio+20), 19 June 2012.

Sproxil’s flagship solution, Mobile Product Authentication™ (MPA), allows consumers to verify that products they buy are genuine by using a mobile phone and a simple, free text message. The solution uses a scratch card method, similar to that used for replenishing cellular talk-time. This allows users to reveal a one-time-use code on drugs and text the code to a call center phone number. A response is dispatched from Sproxil’s servers, indicating whether the drug is genuine, potentially fake, or stolen.

Sproxil’s MPA solution is widely used by leading pharmaceutical companies such as Johnson & Johnson, GreenLife Pharma, Bliss GVS and Biofem Pharmaceuticals.

“It’s an honor to receive the World Business Development Award. Over the years many of the most well-known and well-respected multi-national companies have been award recipients – to be associated with so many global leaders is tremendous,” states Sproxil CEO Dr. Ashifi Gogo. “It not only recognizes the effectiveness of our work to combat drug counterfeiting, but also exemplifies the strength and financial viability of our business model. It will help us gain the international recognition beyond countries we currently operate in, enabling us to have a greater impact in regions most vulnerable to counterfeiting. This helps us solve a problem that impacts the quality of life and productivity of so many people.”

Sproxil provides brand protection in developing countries, where 25% to 50% of medicines are believed to be counterfeit, costing an estimated $75 billion per year.

This is the 10th year anniversary of the biannual WBDAs, run by the International Chamber of Commerce, the United Nations Development Programme (UNDP) and the International Business Leaders Forum (IBLF). The WBDA awards are the first global business awards to recognize the crucial role of the private sector, large and small, in implementing the Millennium Development Goals – eight goals adopted by 189 world leaders in 2000 that offer a road map to put people-centered development at the heart of global, national and local agendas designed to help end extreme poverty and its root causes. The spirit of the Awards lies in the pursuit of innovative and productive core business practices to sustainable development that helps make the societies where they operate better places to live and better places to work.

The United Nations Conference on Sustainable Development (Rio+20) follows the 1992 United Nations Conference on Environment and Development (UNCED) in Rio de Janeiro, and the 2002 World Summit on Sustainable Development (WSSD) in Johannesburg. It is envisaged as a summit at Heads of State level.

Sproxil Founded in 2008, Sproxil is a venture-backed social enterprise headquartered in Cambridge, MA, USA, with subsidiaries in Ghana, Kenya, Nigeria, and India. Through the company’s MPA™ solution, brand owners can connect with their customers in a way not previously achieved, by helping to ensure the goods they purchase are not stolen or counterfeit. Sproxil’s solution is compatible with any tangible item, and it is already widely used by leading pharmaceutical companies to curb the multi-billion dollar counterfeit drug industry.

Recognized as innovative and instrumental in the battle against counterfeiting, Sproxil has won the IBM SmartCamp Boston Award and the 2009 Clinton Global Initiative Outstanding Commitment Award, as well as received regulatory endorsements from the National Agency for Food and Drug Administration and Control in Nigeria and the Pharmacy and Poisons Board in Kenya. The company is headquartered in Cambridge, Massachusetts, United States and continues to expand its presence in multiple countries across Asia and Africa. For more information, please visit www.sproxil.com.