Avesthagen sails into Latin American waters. Forms Avesthagen Latam SpA to tap a large emerging market for its technologies, products and services. Announces strategic alliance with Chilean biotech company – Uxmal S.A. The venture is being actively supported by the Chilean government.
Avesthagen Limited entered into a strategic alliance with Uxmal S.A., a Chilean biotechnology company, for promoting research and development of bioactives for commercialization and use in functional foods, healthcare, cosmetics, etc. The MOU was signed by Dr. Villoo Morawala Patell, Founder & CMD, Avesthagen Limited and Manuel Gidekel, Managing Director, Uxmal S. A. in the presence of Her Excellency Dr. Michelle Bachelet, President of Chile.
Avesthagen also announced its international expansion by setting up Avesthagen Latam SpA, based out of Santiago, Chile. The new company Avesthagen Latam SpA based at the VentureL@b at the Business School of the Universidad Adolfo Ibanez in Penanlolen, Santiago. This significantly elevates Avesthagen into the special league of Indian companies who are etching a global footprint based on R & D capabilities and the ability to translate them into products with global appeal.
The companies have entered into the alliance to work on the following areas:
Bioactives and tissue culture for development of the Bioinformatics platform based on Latin American Medicinal plants.
Development and commercialization of Functional Foods based on bioactives developed by Avesthagen and those from Latin American Medicinal plants.
Development of bioactives and tissue culture of a specific plant species for commercial applications and production of bioactives globally. The particular plant is a source for Photo-protective active for dermal healthcare and for Oncology / Neoplasic applications.
Marketing of Biosimilars that are in an advanced stage of development at Avesthagen.
Development and application of agritechnologies from Avesthagen’s IP portfolio for food, fibre and fuel use.
Speaking on this occasion H.E. Dr. Michelle Bachelet, President of Chile said, “This is a positive step towards collaboration between India and Chile and this alliance will definitely benefit both the nations”.
Speaking to media persons Manuel Gidekel, Managing Director, Uxmal S. A. shared, “With this alliance we are looking forward to up scaling the research and development in agribiotechnology, nutraceuticals and nutritional food and for commercialization and technology development in various markets”.
Dr. Villoo Morawala Patell, Founder & CMD, Avesthagen said “This is an achievement for Avesthagen and I am delighted to take an Indian biotechnology company to 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”.