50 JV with Mycelium Biotechnology in Australia kicks off new R&D chapter, Health News, ET HealthWorld

Bangalore, April 23, 2022: Diversified South Indian Sona Group has formed a 50/50 joint venture with Australian 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 optimize human and planetary health, using mycelium and other mushroom extracts, an abundantly available and sustainable natural resource. As a global mushroom biotechnology group, Mycelium Biotechnology is engaged in mushroom cultivation, global distribution and offering biotechnology and nutraceutical solutions through global partners.

According to Chocko Valliappa, Vice President of Sona Group, “We are pleased to create the Mycelium Sona Biotech joint venture with Australia’s Mycelium Biotechnology, a global research-driven leader in mycelium-based products and solutions provider. The partnership will leverage Sona Group’s research and innovation framework to add to the vast array of IP and patentable technologies.

The joint venture named Mycelium Sona Biotech (MSB) has set up a research center in Salem to focus on nanotechnology research, intellectual property development, extract manufacturing, milling, bottling and trading electronic. Touted as one of the largest mushroom labs in India at Salem with the best global manufacturing practices, the MSB lab will research and cultivate premium mushrooms, extract compounds from mushrooms and mycelium, produce nutraceuticals that comply with certifications FSSAI and FDA.

“We see great opportunities in the Indian market moving forward. Sona’s experience in health technology and research development is a perfect partnership for us to advance our chemistry extraction IP. The launch of the first MSB facility in Salem comes at the most opportune time shortly after the signing of the Australia-India Free Trade Agreement,” said Mr. William Scott, Chairman of Mycelium Group Biotechnology.

With R&D, business and distribution centers located on the east coast of Australia as well as manufacturing facilities in Wisconsin (USA), Mycelium Biotechnology owns dozens of intellectual properties. The bulk of this IP concerns cultivation methods and associated medium formulations for nearly 20 species of fungi, methods for the extraction of mushroom and mycelium biomass and formulations of mushroom extracts.

The medicinal mushroom industry is expected to grow exponentially as more of the 5.1 million mushroom species are researched. The global mushroom industry is expected to exceed US$86 billion by 2025, up from US$53.7 billion in 2019. Growth will be partly fueled by culinary demand, but an even bigger driver will be growing adoption. by the pharmaceutical industry. Varieties such as Chaga, never seen on a plate, are now in the spotlight in supplements.

Some of the major portfolio companies growing through the joint venture include:

REMbiotics, one of the divisions of Mycelium Biotechnology, addresses the global problem of depression (MDD, TRD, PTSD) using bioactive compounds from specific mushroom mycelia combined with native Australian bush foods for a beneficial and synergistic effect.

Preotica is an evolving life science company focused on improving animal immunity and microbial health. Using biotechnological mycelium extraction processes, the Preotica product has been able to produce remarkable results, especially in the poultry industry, aquaculture industry and for beekeepers across Australia.

Shroompac focuses on sustainable eco-friendly packaging materials derived from fungi and mycelium for industrial and consumer applications.

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