India embraces ‘Shroom Boom’ with new nano laboratories JV in Salem – Benzinga – Press Release


BANGALORE, India, May 2, 2022 /PRNewswire/ —South India’s diversified Sona Group has forged a 50:50 joint venture with Australia’s Mycelium Biotechnology Group to set up a state-of-the art Mycelium research and production facility in Salem.

Mycelium Biotechnology is an Australian group known for pioneering innovative solutions to optimise human and planetary health, using mycelium and other extracts from Mushrooms, an abundantly available and sustainable natural resource. As a global mushroom biotechnology group, Mycelium Biotechnology is engaged in mushroom growing, global distribution and offering biotechnology and nutraceuticals solutions through global partners.

According to Mr Chocko Valliappa, Vice Chairman of The Sona group, “We are happy to forge the Mycelium Sona Biotech joint venture with Australia’s Mycelium Biotechnology, a research focused world leader in Mycelium based products and solution provider. The partnership will leverage Sona Group’s research and innovation framework to add to the vast range of IP and patentable technologies.”

The JV named as Mycelium Sona Biotech (MSB) has set up a research facility at Salem to focus on Nanotech Research, IP development, Extract Manufacturing, Milling, Bottling and eCommerce. Billed as one of the largest mushrooms laboratories in India at Salem with best Global Manufacturing Practices, MSB laboratory will research and grow high end mushrooms, extract Mushroom and Mycelium compounds, produce nutraceuticals that conform to FSSAI and FDA certification.

“We see great opportunity in the Indian market moving forward. Sona’s background in health tech and research development is a perfect partnership for us to further advance our nano compound extraction IP. The launch of the first MSB facility in Salem comes at the most opportune time soon after signing of the Free Trade Agreement between Australia and India” says Mr William Scott, Chairman of Mycelium Biotechnology group.

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