Avesthagen IP Model Achieves Global Benchmark Valuation of Euro 115 mn.BANGALORE, India -- Avesthagen: * First Indian blue-chip biotech bi·o·tech n. Informal Biotechnology. biotech Noun short for biotechnology Noun 1. company to achieve milestone in record time of 6 yrs * Catapults Indian biotech sector to a global platform * Announces closure of Euro 25mn fund-raising * 4 strategic business units headed by industry veterans to drive accelerated growth * Unveils new corporate identity and logo * IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. in mid-2008 Avestha Gengraine Technologies Pvt. Ltd. ("Avesthagen"), India's leading fully integrated life-sciences company, announces the successful closure of its Series 'C' fundraise fund·raise or fund-raise also fund raise intr.v. fund·raised, fund·rais·ing, fund·rais·es To engage in fundraising. Verb 1. totaling Euro 25 mn in equity investments, valuing the company at Euro 115 mn (approx. Rs. 667 crores). The funds will be used for Avesthagen's infrastructure expansion plans, including setting up state-of-the-art manufacturing units, R&D laboratories, acquisition of technology companies in the domestic and overseas markets and furthering its international presence. The investors in the series C round include Fidelity International, Limagrain group (France); Daninvest of Danone group (France) and Bennett Coleman (India). With this, total foreign investment in Avesthagen is now over 31%. The new investors further strengthen the already robust existing investor base that includes ICICI ICICI Industrial Credit and Investment Corporation of India Venture, Cipla, Godrej Industries, Tata Industries and bioMerieux. Ms. Renuka Ramnath Renuka Ramnath, a private equity investment manager, pioneered the establishment of ICICI Eco-Net Limited, a company promoted by the ICICI Bank, the second largest bank of India. , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. & MD of ICICI Venture, commenting on the deal said: "ICICI Venture has always believed in the capability and potential of the Avesthagen business model. We have partnered the company from the inception till date and are happy to see that under Villoo's leadership, it is all set to become a global player of repute." Avesthagen has in the past established a number of collaborations including joint ventures and equity-led deals with world leaders For a list of heads of state, see . World leaders is a MMORPG. The game involves creating a state, joining an alliance and going into war. It is mostly played by players from Israel, China, USA, Britain, Brazil and Saudi-Arabia. in their respective industries. These alliances will help the company access global markets. Existing partnerships are multiplying and enlarging ENLARGING. Extending or making more comprehensive; as an enlarging statute, which is one extending the common law. the IP-led collaborations. The year 2006 was of special significance to Avesthagen as two leading global companies made strategic investments in R&D collaborations with two business units of Avesthagen. These are Groupe Limagrain, a French global seed major, for R&D and product development in agri-biotechnology and the European food major Groupe Danone Groupe Danone (Euronext: BN, NYSE: DA) (known as Dannon in the United States) is a food-product company with its central headquarters in Paris, France. It claims world leadership in dairy products,[1] for R&D and product development in bio-nutritionals. Revenues have increased by more than 60% in 2006 and all product pipelines are on target. The company expects to be profitable for the third consecutive year and is witnessing fast growth compared to the usual gestation period Gestation period In mammals, the interval between fertilization and birth. It covers the total period of development of the offspring, which consists of a preimplantation phase (from fertilization to implantation in the mother's womb), an embryonic phase in the biotechnology industry. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Dr. Villoo Morawala Patell, Vice-Chairperson and Managing Director, Avestha Gengraine Technologies, Pvt. Ltd., "The markets addressed by Avesthagen are all global in their nature and alliances in R&D and marketing will continue to be an essential part of its strategy. With long-term commitment towards its clients and strategic investors combined with a unique business model, Avesthagen expects solid growth in the coming years. The years 2006-08 are poised for an accelerated growth with the launch of new solutions and products in all business units of Avesthagen." Going forward, Avesthagen' activities are being re-organized into four strategic business units including bio-pharmaceuticals, bio-nutritionals agri-biotech, science & innovation. Each of these units will be run as independent profit centers with dedicated management teams. Avesthagen's immediate focus will be intensifying its IP through product commercialisation. Avesthagen has started preparations for its IPO which is scheduled to take place by mid 2008, around which time the commercial launch of the first products is expected for the bio-nutritional and bio-pharmaceutical product pipelines. The headcount of the Company is anticipated to increase to over 600 within the next 18 months. Standing at the dawn of a new cycle of expansion and science & technology driven growth, Avesthagen is also pleased to present its new corporate identity and logo. The new identity for the Avesthagen group embodies the organization's commitment to evolve new solutions and creative ideas. About Avestha Gengraine Technologies Pvt. Ltd. Avestha Gengraine Technologies Pvt. Ltd. (Avesthagen) was founded in 1998 by one of India's pioneers and leading biotech entrepreneurs Dr. Villoo Morawala-Patell, who got her PhD from Louis Pasteur University in Strasbourg, France, in 1993. It began business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets officially in 2001. Since its inception Avesthagen has grown into one of India's leading healthcare technology group in India, pursuing its vision of convergence of food, pharma and population genetics Population genetics The study of both experimental and theoretical consequences of mendelian heredity on the population level, in contradistinction to classical genetics which deals with the offspring of specified parents on the familial level. leading to preventive personalised Adj. 1. personalised - made for or directed or adjusted to a particular individual; "personalized luggage"; "personalized advice" individualised, individualized, personalized medicine. Its activities include, in addition to its agri-biotechnologies product pipeline, development of scientifically validated bioactive bi·o·ac·tive adj. Of or relating to a substance that has an effect on living tissue. bioactive having an effect on or eliciting a response from living tissue. nutraceuticals, derived from Indian medicinal plants medicinal plants, plants used as natural medicines. This practice has existed since prehistoric times. There are three ways in which plants have been found useful in medicine. , as well as the development of a pipeline of bio-similar drugs. Avesthagen has four strategic business units: Biopharmaceuticals, Food for Medicine (Bio-nutritionals), Seed for Food (agribiotech) and Science Innovation. Avesthagen's partners include multiple top 10 global companies in each of its fields of research. For the bio-pharmaceuticals business unit, pilot scale manufacturing facilities are being constructed in joint venture format ("Avesta Biotherapeutics & Research Pvt. Ltd.) with its partner, Cipla. Pre-clinical trials for the first products will be initiated shortly. Commercialization of the products, once approved, will be done through Cipla's extensive sales organization. In the bio-nutritionals business unit, (pilot-scale) manufacturing facilities are being constructed. Expansion of manufacturing capacity is also anticipated to take place through acquisition of one or more extraction plants. The first series of pre-clinical trials for Avesthagen's bio-nutritional products has been completed successfully. Commercialization of the products, once approved, will be done in close cooperation with Avesthagen's partners. In addition, Avesthagen has developed its retail formula in the form of Avesta Good Earth Foods Pvt. Ltd., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , that will use the clinically validated botanical bio-actives, as developed by the business unit, as ingredients in its health and functional food product range. As part of its agri-biotech business unit "Seed for Food", Avesthagen, with its strategic partner Limagrain, is setting up a technology driven Indian seed business, through acquisition of Indian seed companies, following which technologies and germplasm from both parties will be used for new product development. Two joint venture companies have been registered between Avesthagen and Limagrain, Atash Seeds Pvt. Ltd. and Ava Seeds Pvt. Ltd. Atash Seeds will be the special purpose vehicle to jointly develop field crops seed activity, while Ava Seeds will be the SPV SPV sheeppox virus. to jointly develop vegetable seed business. Avesthagen collaborates at every stage in the value chain with appropriate partners, both public and private, for access to and exchange of technology and overall commercial expertise to leverage the 'India advantage'. Avesthagen at present employs 250 people worldwide. For Avesthagen on the web: www.avesthagen.com |
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