Strides Pharma Science Announces Sanctioning of Scheme of Arrangement for Creation of India's First Specialty Pharma CDMO - OneSource

Strides Pharma Science Ltd. is pleased to announce that the Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench has pronounced an Order on November 14, 2024, sanctioning the Scheme of Arrangement for the creation of OneSource, India’s first specialty pharma CDMO. The integration brings together the specialized businesses of Strides, Steriscience and the high-end biologics CDMO business from OneSource (formerly Stelis Biopharma Limited). This development is backed by a recently secured equity commitment of INR 8,010 million (USD 95 million) from a group of renowned investors at a pre-money equity valuation of USD 1.65 billion. OneSource will now advance towards listing its equity shares on the BSE and NSE, subject to requisite regulatory clearances. Strides’ shareholders will be allotted One Equity Share of OneSource for every Two Equity Shares held in Strides as part of the approved Scheme of Arrangement.