WELLINGTON -- Extracts of pine tree bark that could help fight cancer, heart disease and Alzheimer's are to be developed into botanical drugs by a New Zealand company, it was announced Friday.

The bark extract is a powerful anti-oxidant and produces compounds that slow the aging process by protecting against genetic damage, said the company, Aegis Bio-actives.

A joint venture between the government-funded Hortresearch Organization and a Christchurch-based biotechnology company, Enzo Nutraceuticals Ltd., will start by developing botanical drugs targeted at alleviating the side effects of chemotherapy and radiotherapy.

Enzo Chief Executive Larry Stenswick said that the founding team of seven scientists had already developed fast and efficient ways to measure DNA damage and repair in humans using natural extracts from Pinus Radiata, a tree that is the basis of New Zealand's sustainable forestry industry.

"The findings in the area of DNA protection and DNA measurement also open the door to rapid progress in developing effective products to prevent many age-related diseases including heart disease, Alzheimer's, cancer and stroke," he said.

Hortresearch Chief Executive Doctor Ian Warrington said that the firm had made a significant investment in natural bio-actives in recent years and that the joint venture, with validated biomedical technology and clinical trial program, was a "real leap forward toward our goal of proving the health benefits of these extracts".

Doctor Lona Weir, chief scientific officer for Aegis, was quoted as saying it was the first time that natural plant extracts would be used in New Zealand to develop a botanical drug, and the potential health benefits were immense.