July 15, 2004
Source: Chronicle Pharmabiz

Avestha Gengraine to expand research facility

Our Bureau, Bangalore

Avestha Genrgaine Technologies Pvt. Ltd. is expanding its business in Research Process Outsourcing by launching a few projects. Nearly 200 professional will be required for these new projects and for the ongoing works. Avestha will also be moving to larger premises in the International Tech Park in Whitefield near Bangalore to accomodate the increasing number staff. To support its expansions in business and infrastructure. Avestha plans to go in for an IPO in the next 18 months.

The company, which focuses on discovery-based biotech activities, is a regular supplier of reagents t pharma majors like Ranbaxy, Cipla, Suven Pharma and Glenmark. This provides these companies newer methods of assaying compounds through cell based systmes in their development of bio-pharmaceuticals.

"For new drug discovery, pharmaceutical companies must develop transgenic cell lines for certian genes," said Dr. Villoo Morawala Patell, Founder and CEO Avestha Gengraine Technologies.

Avestha will focus on research and product development till clinical trials, while pharmaceutical companies will concentrate on scale up, marketing and distribution. Avestha has the capacity and the technology-edge in the field and will continue to make investnents in such models, she said.

Its holding company Avetha Gengraine Technologies Pvt. Ltd., which has already spun off three other companies Avesthagen Research Pvt. Ltd. which is an RPO (Research Process Outsourcing), Avesthagen Seed for Food (AQUAS), and Avesthagen Food for Medicine, known as Avesthagen Inc in the US is raising $9 million from strategic investors, she informed.

The company has filed five patents in 2004 and the total number is expected to go up to 15 by the end of 2004.