May 13, 2004
Source: The Economic Times
Avesthagen ties up with Cipla
MUMBAI: Pharma major Cipla has entered into a
research alliance with Bangalore-based biotech company Avestha Gengraine
Technologies, to develop biopharmaceuticals and a new class of biotech products
called targeted therapies
The partnership will develop products for
auto-immune disorders and will subsequently be broadened to include other areas
such as cardio-vascular disease and cancer.
Avesthagen, under the terms of the agreement, will focus on research and product development, while Cipla will concentrate on marketing and distribution
This is the first research tie-up between a
pharma major and biotech company in India
Avesthagen struck a deal last year for
tuberculosis treatment with bioMerieux, a 1bn euro French diagnostic giant. The
companies will jointly develop a diagnostic kit based on the Affymetrix gene
chip technology.
Avesthagen Gengraine started commercial
operations in ’01 and has since floated two other companies — Avesthagen, based
in San Diego , California and Avesthagen Quality Agricultural Services (AQUAS)
at the ICRISAT campus in Hyderabad .
Avesthagen develops biotech drugs extracted from natural compounds to treat obesity and diabetes. The company is ready with seven lead compounds that have been scientifically validated and clinically tried out against diabetes. Products are likely to hit the market in late ’05.