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Avestha Gengraine Technologies Pvt Ltd (Avesthagen), one of India's leading biotechnology companies, with its philosophy firmly on convergence of food, pharmaceuticals and diagnostics has taken a further step in consolidating its leadership position in the area, with the formation of its biologicals manufacturing venture - Avesta Biotherapeutics Pvt Ltd.
The venture, based in Bangalore, will manufacture a new generation of targeted therapies that are already in development at Avesthagen. In addition, the venture will exploit opportunities in co-development of novel biologicals and Biologicals Contract Manufacturing worldwide - a fast expanding growth segment in the pharmaceuticals arena. Meditab Specialities Pvt Ltd is partner on the venture.
The drug development programme at Avesthagen, which focuses on development of biopharmaceuticals in the area of autoimmune disorders and cancers, is expected to release the first biotherapeutic on the market in late 2006. Avesthagen already has a development partnership with Cipla Ltd in Biotherapeutics and the products are expected to be marketed through the Cipla marketing channels.
The new manufacturing facility will be US-FDA compliant and phase one is expected to go on-stream by the second quarter of 2006.
The Indian biopharmaceutical business, presently estimated at $200 million, is expected to grow to about $3.3 billion by 2007-08, dominated by recombinant proteins, vaccines and monoclonal antibodies. ABPL hopes to capitalize on this opportunity as a base, to catapult it into markets abroad.
As a part of the business plan, the company will also setup cord blood banks in the country to cater to the growing demand in the area. The cord blood banks are also expected to be in place at the same time. Avesthagen's existing pharmacogenomics program will be integrated with this business, and will be the first such offering in the country.
Confirming the development, Dr. Villoo Morawala Patell, Founder & CEO, Avesthagen stated - "I believe that India and Avesthagen in particular, have the capacity and capability to drive the development of new biologicals and this venture is the first step in that direction."
About Avesthagen
Avestha Gengraine Technologies is India's leading fully integrated biotechnology and Bioinformatics Company, focusing on the convergence between food, pharma and clinical genomics leading to preventive personalised medicine. Avesthagen provides innovative solutions for global challenges in agriculture and health problems in the areas of degenerative conditions, metabolic disorders and infectious diseases. The company's unique and internationally recognized business model is built on the synergetic links between R&D provided and on going initiatives for novel product development.
For media queries please contact:
Mr. Vinay Konaje
Vise President - Pharma Division
Avestha Gengraine Technologies Pvt. Ltd.
Discoverer, 9 Floor, Unit 3
International Tech Park Bangalore
Whitefield Road
Bangalore
Tel.: 91 80 2841 1665 / 2308
Email: vkonaje@avesthagen.com
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