Renaissance to be snapped up by Indian biotech giant

By staff reporter

- Last updated on GMT

Related tags: Medicine, Management

California-based Renaissance Herbs has announced its acquisition by
Bangalore-based Avestha Gengraine Technologies Pvt., allowing
Renaissance to expand into the EU and Middle East.

The deal, set to be complete by the end of the month, will see Avesthagen purchasing all outstanding shares of Renaissance Herbs company stock, and includes the purchase of Renaissance's Ayurceutics consumer products line, According to Dr. Villoo Patell, managing director of Avesthagen: "Renaissance Herbs superb manufacturing complex with its ISO 22000:2005, ISO 9001:2000 and organic certifications will allow Avesthagen to actualize our advanced biotechnology research into products for the worldwide nutraceutical and pharma industries."​ Avesthagen is a relatively young company, founded in 1998, and claims to be India's leading, fully integrated, biotechnology and bioinformatics company, focusing on the convergence between food, pharmaceuticals and clinical genomics leading to preventive personalized medicine. "The resources of Avesthagen's world-class, state-of-the-art laboratory facilities and 250 researchers allows Renaissance to take the next step in our evolution providing customers novel new ingredients and products backed by a broad base of biotechnical capabilities including phytoproteomic testing and bioinfomactics,"​ said Renaissance founder Alex Moffett. "It will also allow us a greatly expanded business presence in the EU and Middle East markets,"​ added Moffett, who is set to continue in his role as chief executive for the American operation. Ken Seguine, national sales manager of Ayurceutics, added: "We are all very excited about how these new capacities will allow Ayurceutics products to become the most well researched, tested and scientifically validated products in the industry."

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