Avesthagen Limited, India’s leading knowledge based Life Sciences Company today signed memorandum of understating with the Indian Council of Medical Research (ICMR, New Delhi), the apex Government body in India, for the formulation, coordination and promotion of biomedical research. Avesthagen and ICMR will explore possibilities to innovate nutraceutical development from traditional and folk medicine by knowledge sharing. The agreement aims to strengthen research in the area of Bionutrition and will open new avenues for research on traditional Indian medicinal plants. This is yet another initiative by Avesthagen to strengthen Public –Private partnership in the country.

Both the organizations will also undertake research in the area of genetic engineering and engineering metabolic pathways of medicinal plants for increasing concentration of the active ingredients using physiochemical and molecular approaches,develop oilseeds and pulses with improved nutrition effect, tolerance to drought and salinity and improved nutrient utilization efficiency. The bionutra programme at Avesthagen will get anenhanced impetus by associating with a bodysuch asICMR which is one of the oldest medical research bodies in the world and brings with it enormous experience in almost every aspect ofIndian traditional medicine.

Dr.S.K.Bhattacharya, Additional Director General and Officiating DG of ICMR, said, "While ICMR has established linkages with private sector under the framework of public-private partnerships - the present MoUbetween ICMR and Avesthagen Limited is indeed the first of its kind in the research area of traditional Indian medicinal plants.We welcome this initiative and look forward to working closely with the scientists at Avesthagen.”

On the occasion of the signing of the MoU, Dr.Villoo Morawala-Patell, Founder, Chairman & Managing Director of Avesthagen Limited said, “I am extremely delighted at joining hands with ICMR. We, at Avesthagen have been investing and developing various tools and methodologies for the identification and validation of plant bio-actives. These efforts of ours would be made use for both therapy and preventive healthcare. Avesthagen’s important and unique association with ICMR will hasten this process and also provide an independent view of our results.”

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About ICMR

The Indian Council of Medical Research (ICMR), New Delhi, the apex body in India for the formulation, coordination and promotion of biomedical research, is one of the oldest medical research bodies in the world. The Council's research priorities coincide with the National health priorities such as control and management of communicable diseases, fertility control, maternal and child health, control of nutritional disorders, developing alternative strategies for health care delivery, containment within safety limits of environmental and occupational health problems; research on major non-communicable diseases like cancer, cardiovascular diseases, blindness, diabetes and other metabolic and haematological disorders; mental health research and drug research (including traditional remedies). All these efforts are undertaken with a view to reduce the total burden of disease and to promote health and well-being of the population.

AVESTHAGEN LIMITED (www.avesthagen.com) is India’s leading integrated systems biology platform company that focuses on achieving convergence of food, pharma and population genetics leading to predictive preventive and personalized healthcare. It employs 600 people worldwide and is headquartered in Bangalore. Avesthagen Limited has established world class, state-of-the-art laboratory facilities in Bangalore. It began business operations in 2001.Since its inception Avesthagen has grown into one of India's leading healthcare technology group in India, and its activities include, in addition to its agri-biotechnologies product pipeline, development of clinically validated botanical bioActives, derived from Indian medicinal plants, as well as the development of a pipeline of bio-similar drugs. Avesthagen Limited has four strategic business units: bioPharmaceuticals, bioNutrition, bioAgriculture and Science & Innovation. Its partners include multiple top 10 global companies in each of its fields of research. Avesthagen Limited 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’.

Disclaimer

Avesthagen Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, a public issue of its equity shares and to file a Draft Red Herring Prospectus with SEBI. This announcement does not constitute an offer of equity shares for sale in any jurisdiction, including the United States of America, and any equity shares of the Company may not be offered or sold in the United States absent registration under the United States Securities Act of 1933, as amended, or pursuant to an exemption from registration