Avesthagen Limited, the Bangalore-based integrated systems biology platform company, has announced a licensing agreement with a global specialty chemicals companies for its 100 per cent vegetarian AvestaDHA for animal feed application. The agreement is non-exclusive and Avesthagen stands to earn $30 million over the next decade.
Villoo Morawala Patell, founder and chairperson, Avesthagen, said: "This is one step towards our continuing commitment to discovery and commercialisation of science based products that promote health and well-being throughout life. AvestaDHA will serve as an acceptable and safe source of DHA for the much-neglected field of animal health."
DHA is naturally found in different types of fish oil and marine plankton, but it is anticipated that supply from this source will be insufficient to meet the growing demand. As per industry analysts, just the algal DHA/EPA market for 2013 is expected to exceed $525 million while growing at an annual rate of 24 per cent. The total global market for products containing DHA exceeds $26 billion (Source: Frost and Sullivan, 2011).
Adds Patell: "Avesthagen is open to global licensing, manufacturing and marketing alliances for human and nutrition, animal feed and many other applications. AvestaDHA is targeted at improving the nutritional health at the bottom of the pyramid.
