Avesthagen gets award for disruptive innovation

Bangalore-based Avestha Gengraine Technologies (Avesthagen), with interests in biopharmaceuticals, food for medicine (nutraceuticals) and seed for food (agri-biotech) has been named a Red Herring Magazine 100 Asia Winner for 2006 for disruptive innovation.

"Such independent validation of the company is gratifying at a time when we are raising funds for a pre-IPO round and comes at a time when we have entered into a long-term collaboration with Group Limagrain. Group Limagrain is the fourth largest seeds group in the world, to develop superior seeds for the Indian and global market," said Villoo Morawala Patell, founder and CEO, Avesthagen.

"The award also underlines the potential of the company, which is working to bring its first product into the market in 2007 and we are proud to be working with companies like Nestle, AstraZeneca, Novartis, Cipla and bioMerieux. I am delighted that our collaborations, scientific achievements and strategy have been recognised by this award," she added.