CHENNAI: Indian Oil Corporation (IOC) on Monday handed over a cheque for Rs 1 crore to Sankara Nethralaya that is in the process of setting up Vision Research Foundation (VRF) in Chennai.
Talking to newsmen, Dr. S.S. Badrinath, President and Chairman, Medical Research Foundation of Sankara Nethralaya, said that the Rs 36-crore VRF to come up in a 7-storeyed building would become operational by August 2008.
The foundation would go into the root cause of vision ailments in India. It would house departments such as bio-chemistry, genetics, nano-technology and IT in medicine among others. As a special gesture, one floor would be named after IOC. Mentioning that research work was not given importance in India, he said that this foundation would be in a position to reproduce results in the years to come.
“We have been carrying out research work for the last 20 years and have gained recognition nationally and internationally. The culmination of this project would help humanity to a larger extent.”
Till date, VRF mobilised Rs. 19 crore from well known corporate houses and individuals to undertake clinical research. It sought the help of corporate houses and philanthropists to support their cause.
According to Dr. Badrinath, officials of the U.S.-based Missouri University would be signing a Memorandum of Understanding with the Medical Research Foundation on January 9 for setting up a global centre for pseudomaxanthoma elasticum (PXE). “PXE is a skin disease that could affect the eyes. We will treat patients of American Xantho Elasticum Society and conduct research in the field. South Carolina has sought the help of the Medical Research Foundation for setting up its Nano Medicine Park. The ophthalmic part would be located in Sankara Nethralaya,” he said.
After handing over the cheque, IOC Southern Region General Manager M. Nageswaran said that they were ready to help the needy as part of Corporate Social Responsibility.
Next week, IOC will be handing over Rs 35 lakh to Thanjavur Collector towards tsunami relief work.