India's biotechnology company Avestha Gengraine Technologies (Avesthagen) has tied up with Denmark's Centre for Clinical and Basic Research and Industrialisation Fund for Developing Countries (IFU) for osteoporosis research.
The collaboration is being done through the joint venture called Avesta Nordic Research Pvt. Ltd in which Avesthagen has invested 2.5 million euros and the Danish research organization had invested the same.
"The alliance will cover diagnosis, treatment and prevention of osteoporosis and related bone disorders," Avesthagen said in a statement Thursday.
Centre for Clinical and Basic Research, Denmark, is a private research institute that primarily works with conditions and diseases that arise in association with the menopause, especially osteoporosis.
IFU is an investment fund owned by the Danish government and has a directive to promote economic activities in developing countries like India by investing in commercial projects together with industry.
Commenting on the investment, Avesta Nordic chairman Helle Bechgaard said: "IFU had been keenly watching the rapid growth in the biotech sector globally, but more especially in India through our office in New Delhi over the past two years.
"We have made this strategic investment in Avesta Nordic because we believe in its platform and the huge potential of this sector."
Source: Indo-Asian News Service
Medindia on Osteoporosis- Further information
Osteoporosis: This is the disease that makes the bone brittle and is the cause of hip and other fractures that may lead to permanent disability, and at times even death. The spinal cord may start collapsing leading to a stooped posture, chronic pain etc. It is a condition that may arise due to a variety of factors like genetic, physiological, dietary and age. Osteoporosis is most common in women in their post menopause age, although all men above 50yrs are also at a risk from the condition.
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