Avestha Gengraine Technologies (Avesthagen) of India is collaborating with Clinical and basic Research and Industrialization fund for Developing Countries (IFU) of Germany for Osteoporosis research. This joint venture is estimated of 5 million euro. Avesthagen said ""The alliance will cover diagnosis, treatment and prevention of osteoporosis and related bone disorders." The research studies related to menopause linked to osteoporosis and development of new drugs for treatment of Osteoporosis. IFU is an investment fund owned by the Danish government and has a mandate 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.
Advertisement"We have made this strategic investment in Avesta Nordic because we believe in its platform and the huge potential of this sector."
(Indo-Asian News Service)
For more information on Osteoporosis in Medindia:
Osteoporosis is often known as "the silent thief" because bone loss occurs without symptoms and the progressive loss and thinning of bone tissue happens over many years. This disease affects millions of people throughout the world. Women are four times more likely than men to develop the disease.
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