The Hyderabad-based Nandan Biomatrix has signed a Memorandum of Understanding with The International Crops Research Institute for the Semi-Arid Tropics (ICRISAT). The MoU envisages collaboration on R&D in the area of medicinal plants for deriving nutraceuticals.

The director general of ICRISAT, Dr William D Dar, and the managing director of Nandan Biomatrix Ltd, V Bhaskar Rao have signed the MoU.

Through the MoU, the Institute will strengthen its partnership with Nandan for scaling up its natural resource management technologies.

Nandan Biomatrix is a Rs 25 crore company engaged in a gamut of biotech activities like direct and contract farming of various herbs and aromatic plants, since a decade. It is also the first company to initiate setting up of a Horti Processing Park.

It may be noted that Nandan has also tied up with Synergy Foundation (UK) and are proposing to incorporate a joint venture company to bring together wasteland owners, landless poor and green investors in a unique and synergistic way to provide assured livelihood for the rural poor in a profitable and sustainable way.

The Agri-Science Park at ICRISAT (ASP) will host this project. Apart from providing expertise and technical backstopping services, ICRISAT will also extend infrastructure support through its state-of-the-art labs and propagation and farm facilities.

The ASP is a "hub" for public-private partnerships to enhance the development and commercialization of science-generated technologies and knowledge through market mechanisms.