Venturesome biotech

On the dais at the inaugural of Bangalore Bio 2007 was Avesthagen’s founder, vice chairman and managing director Dr Villoo Morawala-Patell. Lending lustre to India’s premier biotechnology conference and trade show from June 7-9, 2007 was P. C. Chidambaram, union finance minister, H. D. Kumaraswamy, chief minister of Karnataka, Dr Kiran Mazumdar-Shaw, chairman and managing director, Biocon Limited, and a host of high-powered delegates from the UK, Australia, France, Germany, US and other countries. Though progressing at a rapid clip, the biotechnology industry is facing funding challenges (venture capital) and the right kind of talent pool, the meet noted.

Covering the event, BioSpectrum (July 2007) writes: "Bangalore-based Avesthagen announced the signing of a pact with the government of Andhra Pradesh for an additional 50 acres of land in the state’s biotech park.The company is planning to set up two manufacturing units in Hyderabad — Avestha Biotherapeutics and Research, which will manufacture biosimilar products and Avesta Good Earth which will manufacture bionutraceu­ticals.”

Under the brand name "good earth” the company’s product portfolio includes muesli (breakfast cereal) in classic, diet, chocolate and elaichi flavors, the new muesli bars with dates, almonds, apple, cinnamon, etc and crackers in six varieties — plain wheat, cracked pepper, flaked chilli, sesame, garlic and herb, according to their website www.avestagoodearth foods.com