Avesthagen Limited entered into a strategic alliance with Uxmal SA, a Chilean biotechnology company to promote the research and development of bioactives for commercialization and use in functional foods, healthcare and cosmetics.
The pact was signed by Dr Villoo Morawala Patell, founder & CMD, Avesthagen Limited and Manuel Gidekel, managing director, Uxmal SA in the presence of Dr Michelle Bachelet, president of Chile.
The company also announced its international expansion by setting up Avesthagen Latam SpA, based out of Santiago, Chile. The new company is based at the VentureLab at the Business School of the Universidad Adolfo Ibanez in Penanlolen, Santiago.
This significantly elevates Avesthagen into the special league of Indian companies which are etching a global footprint based on R&D capabilities and the ability to translate them into products with global appeal, stated Dr Villoo Morawala Patell, founder & CMD, Avesthagen.
"This is an achievement for Avesthagen as an Indian biotechnology company enters emerging markets. 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," added Dr Patell.
The companies have entered into the alliance to work on bioactives and tissue culture for development of the bioinformatics platform based on Latin American Medicinal plants. There will also be development and commercialization of Functional Foods based on bioactives developed by Avesthagen and those from Latin American Medicinal plants.
The development of bioactives and tissue culture of a specific plant species for commercial applications and production of bioactives globally will also be undertaken. The particular plant is a source for Photo-protective active for dermal healthcare and for oncology/neoplasic applications.
Marketing of biosimilars are in an advanced stage of development at Avesthagen. Development and application of agri-technologies are from Avesthagen's IP portfolio for food, fibre and fuel use.
According to Dr Michelle Bachelet, president of Chile this is a positive step towards collaboration between India and Chile and this alliance will definitely benefit both the nations.
"With this alliance we are looking forward to up scaling the research and development in agri-biotechnology, nutraceuticals and nutritional food and for commercialization and technology development in various markets," said Manuel Gidekel, managing director, Uxmal SA.