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 nutraceutical solutions through global partners.

According to 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 mushroom laboratories in India at Salem with the best Global Manufacturing Practices, MSB laboratory will research and grow high-end mushrooms, extract Mushroom and Mycelium compounds, and 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 the signing of the Free Trade Agreement between Australia and India" says William Scott, Chairman of Mycelium Biotechnology group.

With R&D, Business and Distribution centres located across Australia's East Coast as well as manufacturing facilities in Wisconsin (USA), Mycelium Biotechnology owns scores of IP. The bulk of this IP relates to cultivation methods and associated medium formulations for nearly 20 mushroom species, extraction processes of mushroom and mycelium biomass and formulations of mushroom extracts.