Bangalore, April 2, 2008: Avesthagen, India’s leading knowledge-based Life Sciences company and TECOM Investments 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. The joint venture will also explore future opportunities in the areas of Environment Adjusted Crops, AgriBiotech, bioActives for the food and beverage industry, Genome Project, Herb-Based projects among others.

 

The agreement was signed by Dr Villoo Morawala-Patell, Founder, Chairperson and Managing Director, Avesthagen and Dr. Abdulqader Alkhayat, Executive Director of DuBiotech. The first project to be undertaken will include the launch and commercialization of BioPercept, an eco-friendly and biodegradable plastic in the Gulf Cooperation Council (GCC) region and also establish a conversion plant to process BioPercept within the next two years. This alternate biodegradable plastic breaks down and becomes compost in a matter of 120 days under industrial composting conditions.

 

Dr Villoo Morawala-Patell said, “The launch of BioPercept, 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.”

 

The release noted that 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.