USFDA16 Oct 2024, 01:30 pm
Strides Pharma Science's CDMO arm, OneSource, raises USD 95 mn from marquee investors at a pre-money equity valuation of USD 1.65 bn
AI Summary
Strides Pharma Science Ltd announced that its associate company, OneSource Specialty Pharma Limited, has received confirmed commitments for fundraising of INR 8,010 mn (~USD 95 mn) from marquee domestic and foreign institutional investors and family offices. The fundraise is being led by HBM Healthcare Investments and associated investors, with the additional participation inter alia from WhiteOak Capital, Param Capital, Motilal Oswal, Enam Holdings and SBI Life Insurance Co Ltd. This fundraise is in line with the Scheme of Arrangement announced in September’23 and the investment is subject to customary closing conditions, including receipt of necessary regulatory approvals.
Key Highlights
- OneSource, a Group’s Spec Pharm CDMO of Strides Pharma Science Ltd, raises INR 8,010 mn (USD 95 mn) from marquee investors
- The fundraise is being led by HBM Healthcare Investments and associated investors
- Additional participation from WhiteOak Capital, Param Capital, Motilal Oswal, Enam Holdings and SBI Life Insurance Co Ltd
- The investment is subject to customary closing conditions, including receipt of necessary regulatory approvals
- This fundraise is in line with the Scheme of Arrangement announced in September’23