Avesthagen ties up with Danish company

Bangalore-based biotech firm, Avestha Gengraine Technologies (Avesthagen) and Danish Centre for Clinical and Basic Research (CCBR) and its subsidiary Nordic Biosciences, will set up a joint venture in India.

The yet unnamed venture will work towards developing and marketing neutraceuticals to address osteoporosis following the 'traditional' route of plant medicines.

Osteoporosis is a disease in which bones become fragile. If not detected soon or left untreated, osteoporosis can progress painlessly until a bone breaks.

"We will draw from Avesthegen's database of plant properties for the research. The product should take around three years to hit the market. At present, the plan is to create ingredients that will enter the functional foods and pharma chain to fight osteoporosis, in keeping with our larger goal of food for medicine. Its too early to say whether the product will take the shape of a proper clinical intake or capsule," said Villoo M Patell, founder and CEO of Avesthagen.

According to her, the whole process "" from research to product "" will involve a projected investment of Euro 7.5 million.

A third each of the amount will be invested by Avesthagen and CCBR. IFU (Industrialisation Fund for Developing Countries), a fund connected to the Danish government which invests in projects in developing countries, is considering investing the remaining third of the amount in the venture.

Avesthagen has also licenced osteoporosis diagnostic kits from CCBR and will be marketing the same in India by way of their partners.

"We will be working with our marketing partners to make the kits available in India. We will retool the kit here to an extent and will even consider providing the diagnosis as a service to hospitals which lack the infrastucture and the capability to handle the same," added Patell.

The global market for osteoporosis drugs is estimated at $10 billion and growing at 25 per cent.

Patell added that there were some drugs available in the Indian market, whose potential is estimated at $10 million with a growth of 25 to 40 per cent.

She also said that the Indian market suffered from a general lack of awareness and quick detection of the disease as did many other parts of the globe.