02 September 2013 | News | By BioSpectrum Bureau
Avesthagen Nutrition Unit takes bite out of global pie for DHA
Avesthagen Limited, India's leading integrated systems biology platform company announces License Agreement with one of the world's leading specialty chemicals companies for its 100% vegetarian AvestaDHATM for animal feed application.
DHA is naturally found in different types of fish oils and marine planktons, but it is anticipated that the supply from this source will be insufficient to meet the growing demands. As per the industry analysts, just the algal DHA/EPA market for 2013 is expected to exceed $525 million while growing at an annual rate of 24%.
Dr Villo Morawala Patell, founder and Chairperson Avesthagen said, "This is one step towards our rigorous commitment to discovery and commercialisation of science based products that promote health and well-being through out life. AvestaDHATM will serve as an acceptable and safe source of DHA for the much neglected filed of animal health."
Avesthagen's innovative patented and trademarked technology allows commercial production of superior quality, 100% vegetarian AvestaDHATM derived from microalgae found in the Indian Ocean.
Furthermore Dr. Patell adds, "Avesthagen is open for global licensing, manufacturing and marketing alliances for human and medical nutrition, animal feed and many other applications. AvestaDHATM is targeted at improving the nutritional health of the bottom of the pyramid and Avesthagen invites like-minded government, private organisations and civil society to join in the mission."
Avesthagen developed AvestaDHATM with a grant from CSIR under the New Millennium Technology Leadership (NMITLI) scheme for production of cost effective and renewable sources of DHA and other Long Chain Polysaturated Fatty Acids. The project also involved the National Institue of Oceanography. the Indian Institute of Integrative Medicine, Jammu. and the Indian Institue of Chemical Technology, Hyderabad.
The agreement is non-exclusive and Avesthagen stands to earn USD30 millions over the next decade.