The new joint venture will be headquartered in New Jersey and will be incorporated under the name of its signatories, DolCas-Tenshi Bioceuticals Inc. Both parties will have equal interests in the company while still maintaining their separate main businesses.
Bengaluru-based Tenshi brings its proprietary technologies in manufacturing to the partnership and will spearhead the joint venture’s front-end activity, including commercialization and go-to-market efforts. DolCas brings expertise in the branded dietary supplements ingredients it markets in the pain management and general well-being categories.
Some ingredients in DolCas’ portfolio include the olive tree-derived polyphenolic TruOliv, marketed for blood sugar management, and a high nitrate red spinach extract positioned for sports nutrition.
“Borrowing from pharma’s highly standardized manufacturing processes and strict regulatory guidelines and expectations, I see this venture contributing to the dietary supplement landscape in a distinctive way,” said K G Rao, president of DolCas Biotech, said in an emailed statement.
Beyond nutraceuticals, the companies announced that the joint venture will also develop products for functional food and beverage markets around the world.
The venture will debut its first two products at the upcoming VitaFoods show in Geneva in May.
“Tenshi is delighted to partner with DolCas to build a significant branded dietary supplement business for the global markets,” Venkat Iyer, co-founder of Tenshi, said in a press release.
“We strongly believe that DolCas’ legacy and reputation of bringing to market science-led dietary supplements offers the perfect complement to Tenshi’s development platform for its novel ingredients.”
“I am excited about our joint venture with Tenshi, an impressive conglomerate of the pharmaceutical industry,” Rao said.
“At the hallmark of my 27th year in the nutraceutical sector, I am looking forward to the positive impact this joint venture will have in the space, and the contribution it will make to the end-user.”
He added that the new company will operate with full vertical integration to ensure maximum transparency for our clients and consumers.