Avesthagen Limited & DuBiotech to enter into JV

AVESTHAGEN LIMITED, India’s leading knowledge-based Life Sciences Company and TECOM Investments FZ LLC acting through its Dubai Biotechnology and Research Park (DuBiotech) signed an over-arching framework agreement to join forces to market and launch new products furthering the growth and development of biotechnology. In this joint effort, longstanding knowledge from traditional Indian medicine and state-of-the-art genomic research, and a diverse array of technologies will be integrated in a focused manner to bring innovative solutions to predictive, preventive and personalised healthcare to mankind.

The agreement was signed by Dr. Villoo Morawala-Patell, Founder, Chairperson and Managing Director, AVESTHAGEN LIMITED and Dr. Abdulqader Alkhayat, Executive Director of DuBiotech. The first project to be undertaken will include the launch and commercialization of BioPerceptä, an eco-friendly and biodegradable plastic in the Gulf Cooperation Council (GCC) region and also establish a conversion plant to process BioPerceptä within the next two years. This alternate biodegradable plastic breaks down and becomes compost in a matter of 120 days under industrial composting conditions. The joint venture will explore future opportunities in the areas of Environment Adjusted Cropsä, AgriBiotech, bioActives for the food and beverage industry, Genome Project, Herb-Based projects among others.

Commenting on this landmark occasion, Dr Villoo Morawala-Patell, Founder, Chairperson & Managing Director, AVESTHAGEN LIMITED said, “We are extremely glad to partner with DuBiotech to explore joint possibilities of further science and research in the life sciences segment. The launch of BioPerceptä, a biodegradable plastic, is our way of contributing back to the environment we live in.  As research and innovation is core to AVESTHAGEN, we would not stop here, but continue our work to introduce more environment friendly products.” 

Sourced From : Imprimis Life PR Pvt Ltd