India’s Avesthagen Loses Luster In Global Financial Atmosphere
This article was originally published in PharmAsia News
Executive Summary
Indian biotech Avesthagen appears to be facing a financial crisis. Several company executives have left and the latest audits illustrate cash-flow problems. ICICI Venture Funds Management, one of the earliest backers of the firm in 1998, appears to be backing away from its ties with the firm after it called home its only Avesthagen board member. Because Avethagen is not a publicly traded company, its business operations remain confidential. (Click here for more