Avesthagen in talks to sell bioactives globally

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Chennai, Hyderabad, Sep 10: Avesthagen, an integrated systems biology platform company, is in talks with food majors in India and abroad to sell its bioactive ingredients, said a senior official of the company. These ingredients, manufactured from traditional medicinal plants, can help control ailments like diabetes, obesity, metabolic syndrome and bone weight loss.

“We have already introduced seven bioactive ingredients to be used in various functional foods,” said Anil, vice president, business development, Avesthagen. The company uses these bioactives to manufacture crackers, biscuits, cereals and breads. It will shortly introduce another 12-15 ingredients, he added.

“We are talking to a number of food companies to use our bioactive ingredients in preparing functional foods. These ingredients will meet consumers’ needs for great taste, better nutrition at most competitive prices while preventing ailments [mentioned above],” he told FE.

“The functional foods market is estimated at $ 85 billion globally and Rs 200 crore in India. We expect the market to grow at a CAGR of 16%,” said Sandip Dang, chief executive officer, Avesta Good Earth Foods, a subsidiary of Avesthagen.

“We are looking at revenues worth Rs 100 crore from the bioactive ingredients business in the next two to three years,” he added.

Meanwhile, the company is planning to introduce three biosimulars which will help in curing therapeutic indications like rheumatoid arthritis, anemia resulting from chronic renal failure or chemotherapy, and colorectal cancer. It has received approvals to conduct pre-clinical trials from the Department of Biotechnology, Government of India and has successfully done the same.

“We are now planning a clinical trial of biosimulars,” said Partha Sarathi Ghosh, vice-president of the biopharmaceuticals division of Avesthagen. He noted that the first biosimulars will be introduced in 2009, followed by two other releases in 2010.

“We will also introduce 8 more products over a period of time to address other diseases,” he said.

According to Anil, on the bioagricultural side, Avesthagen is involved in developing technology for seeds which can be used in drought-prone areas.

Further, it is also working on integrating conventional plant breeding with biotechnology through a joint-venture with Group Limagrain of France, informed K S Narayana Swamy, CEO, Atash Seeds Pvt Ltd. Under this arrangement, Avesthagen seeks to combine its biotech tools with Limagrain’s elite germplasm.