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Avesthagen to raise 25 m euro

Special Correspondent

BANGALORE: Biotech firm Avestha Gengraine Technologies Pvt. Ltd. proposes to raise 25 million euro through private placement of equity to help fund acquisitions and global expansion plans, Villoo Morawalla Patel, Founder and CEO, Avesthagen, told reporters here.

The company is building an integrated lab facility spread across 2.50 lakh sq. ft. in Bangalore with an investment of Rs. 50 crore.

The new facility is scheduled to be ready by mid-2007, she said.

Avesthagen will ramp up its employee strength from the present 200 worldwide to 300.

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