Avesthagen Quality Agriculture Services Pvt. Ltd. "AQUAS" the subsidiary of Avestha Gengraine Technologies Pvt. Ltd. has tied up with the government of Kerala for a setting-up a start-up initiative to provide comprehensive services like analytical consulting and research services to enable certification of herbal medicinal products for the global market.
The joint venture will provide assistance to the government of Kerala in phyto-pharmaceutical and nutraceuticals development in the state. The new research venture likely to called 'AQUAS -Kerala' and is referred to as a 'special purpose vehicle' to assist Kerala in getting its range of herbal drugs to the international arena after endorsing its quality standards, Dr. Villoo Morawala-Patell, chairman, Avesthagen Quality Agriculture Services Pvt. Ltd. and founder-CEO, Avestha Gengraine Technologies Pvt. Ltd. told Pharmabiz.com
The investment in 'AQUAS -Kerala' is expected to be around Rs.3 crore and the venture is expected to take off in the next three months. The exact particulars of the investment is being worked out by both AQUAS and Kerala government and is too early to disclose said Dr. Patell.
The company has already signed an MoU (memorandum of understanding) with minister of industries, government of Kerala PK Kunjalikutty.
The government of Kerala has invited Avestha based on its credentials of a wide range of expertise in biotechnology. It achieved the distinction of becoming the first company in the south East Asian region to offer globally accepted testing and certification for genetically modified organisms (GMOs), through global alliance with the US-based Genetic ID Inc. The achievement makes India, the only country in Asia apart from Japan where globally accepted GMO testing is available which would provide a lot of thrust to the Indian agriculture, food processing and herbal medicine industry to gain access to markets that were beyond reach till due to the absence of a credible certification service, informed Dr. Patell.
It is Avestha's internationally recognized business model which evolves around its biotechnology competencies and on-going initiatives for novel product development that attracted Kerala government. The Kerala economy is largely dependent on exports of medicinal plants and the association with Avestha would help the State to get a better premium in the global market, stated Dr. Patell.
AQUAS' was set up in 2003 in the premises of ICRISAT at Hyderabad as a premier integrated food, water and seed purity testing Platform Company. It signed an MoU with ICRISAT to develop research technologies.
The main objective of AQUAS is to provide a one-stop-shop model of total food, water and seed testing requirements to the Indian food and agri-industry. It has a fully equipped laboratory and a qualified team employing rigorous and internationally accepted techniques for the tests.
Avestha has also partnered with the Bangalore-based Foundation for Revitalization of Local Health Tradition (FRLHT) for providing pharmacognosy support to validate herbal plant compositions.