Business Daily from THE HINDU group of publications
Thursday, Jan 03, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Thursday, Jan 03, 2008 ePaper | Mobile/PDA Version |
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Corporate
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Outlook Avesthagen now a limited company Our Bureau Bangalore, Jan. 2 Life sciences company Avesthagen has become a limited company, setting the ball rolling for a proposed public offer, possibly later this year. Dr Villoo Morawala-Patell, founder and CMD, Avesthagen Ltd, said, “The name change is a key milestone in our growth, to broaden our corporate legal status and bring in stringent corporate governance. It also brings transparency in all our operations and the opportunity for future public participation in wealth creation as well.” “A public limited status will also help us to rope in public and institutional investments for future expansion needs,” she was quoted in a company release. The Bangalore-based company, now 500 strong, started operations in 2001 as Avestha Gengraine Technologies P Ltd. Its innovation model offers a mix of food, pharmaceuticals and population genetics. ActivitiesThe larger picture is of providing ‘predictive preventive personalised healthcare’: the activities include development of a pipeline of bio-similar drugs, clinically validated bioactives derived from Indian medicinal plants and biotech seeds. It has investments from ICICI Ventures, Tata Industries Ltd, Fidelity International, Group Danone arm Daninvest and New York Life Investment Management India. Its partners include pharma majors Cipla, AstraZeneca, Novartis; and MNCs BioMerieux, Nestle and French seeds major Group Limagrain. More Stories on : Outlook | Pharmaceuticals | IPOs
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