Press Trust of India / Bangalore Mar 20, 2009, 17:30 IST
Avesthagen Limited,a leading Indian biotechnology firm, has entered into stategic alliance with Uxmal S.A., a Chilean biotechnology firm for promoting research and development of bioactives for commercialisation and use in products like functional foods and healthcare.
Avesthagen also announced its international expansion by setting up Avesthagen Latam SpA at the Venture Lab at the Business School of the Universidad Adolfo Ibanez in Penanlolen, Santiago.
The two firms would work on bioactives and tissue culture for development of bioinformatic platforms based on Latin American plants, development and commercialisation of functional foods based on bioactives developed by Avestahgen and those from Latin American medicinal plants.
It would also work on development of bioactives and tissue culture of a specific plant species for commercial applications and production of bioactives globally. The firms would work on marketing of biosimilars that are in an advanced stage of development at Avesthagen.
According Dr Villoo Moarawala Patel, CMD, Avesthagen "We intend to use our domain expertise and knowledge base in furthering research and development related activities for the development of technology and products in agriculture, pharma and food business internationally."
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