Avestha Gengraine Technologies Pvt. Ltd., India's leading systems biology innovation company, has announced an Rs 225 million investment in share capital by New York Life Investment Management India Fund (FVCI II), LLC (NYLIM India Fund) through equity shares for a minority stake.

Focusing on the convergence between food, pharmaceuticals and clinical genomics, Avesthagen provides innovative solutions to agriculture and health problems such as degenerative conditions, metabolic disorders and infectious diseases.

"In just six years, Avesthagen has become India's premier systems biology company. With the growing global market demand, a robust pipeline of products backed by the best practices in research and development, Avesthagen is poised for significant growth. We believe this investment by the NYLIM India Fund is a strong endorsement of Avesthagen's business model," said Dr Villoo Morawala Patell, vice-chairperson and managing director, Avestha Gengraine Technologies Pvt. Ltd.

Avesthagen's clients include leading multinationals and Indian companies such as bioMerieux, Cipla, Godrej Industries, Nestle, Groupe Limagrain, and Danone. Leveraging its R&D capabilities, Avesthagen also expects to commercially launch some of its products for the bio-pharma and bio- nutritional markets in 2008. The company is also planning to ramp up its headcount to over 600 within the next 12 months.

According to Srinivas Chidambaram, managing director, Jacob Ballas Capital (JBC) India Pvt. Ltd., the investment advisor to NYLIM India Fund, "With its leadership team, unique business model, its research partnerships and its scientific initiatives, Avesthagen has the potential to develop a valuable IP portfolio which can be leveraged globally in the bio-pharma, bio-nutritional and bio-agriculture sectors. Avesthagen is a great example of India's emerging competitiveness in these areas and we look forward to being part of the company's continued success."