Avesthagen Limited, a leading Indian biotechnology firm, today announced the setting up of Avesthagen Latam SpA at the Venture Lab at the Business School of the Universidad Adolfo Ibanez in Penanlolen, Santiago, Chile, as part of its overseas expansion plan.

Avesthagen also entered into strategic alliance with Uxmal SA, a Chilean biotechnology firm, for promoting research and development and commercialisation of bioactives for use in products like functional foods and healthcare.

Under the tie-up, the two firms would work on bioactives and tissue culture of Latin American plants for development and commercialisation of functional foods and medicinal plants, Avesthagen said.

The two would also combine their research activities based on Latin American medicinal plants for development of bioinformatic platforms.

Avastegen would also use the tie-up to market biosimilars that are in an advanced stage of development at its R&D labs.

"We intend to use our domain expertise and knowledge base in furthering research and development related activities for the development of technology and products in agriculture, pharma and food business internationally,''  said Villoo Moarawala Patel, CMD of Avesthagen.

Avesthagen currently undertakes research, development and marketing of natural ingredients exclusively derived from traditional Indian medicine. These ingredients are scientifically validated to prove their health benefits to promote wellness through prevention of specific degenerative conditions like diabetes, obesity, metabolic syndrome and bone loss.

Avesthagen has established a wide network of access to sources of traditional Indian medicine that is used as a basis for the discovery and development of novel health ingredients.

The company has evolved an array of services that include product concept design, product co-development, optimisation of organoleptic characteristics, scientific validation in peer-reviewed publications, design and management of clinical studies and marketing support to health professionals.

Avesthagen has developed multiple scientifically validated ingredients and products to promote wellness through prevention of specific degenerative conditions - diabetes, obesity, metabolic syndrome, and bone loss - each of which has a large market both for treatment and prevention.

Avesthagen also focuses on generating novel nutraceutical products through application of its integrated technology platform on the converging food and pharmaceutical sectors. The programme is developing medicinal plant based solutions for chronic degenerative conditions such as diabetes, obesity, osteoporosis, etc. where no effective treatment currently exists. Avesthagen plans to bring to market over the next few years a range branded therapeutic nutritional compounds with supporting clinically validation.