Global private equity player Sequoia Capital has invested Rs 100 crore in Hyderabad-based contract research organisation GVK Biosciences. The company plans to use the money to fund acquisitions in the CRO space and also add to its existing capacities.
The investment comes close on the heels of Sequoia picking up an 18% stake in Hyderabad-based CRO SAI Advantium, signaling the PE major’s interest in the contract research space.
Part of the funds raised will also be used to finance the company’s new campus being built at Mallapuram near Hyderabad at a cost of Rs 60 crore. The investment would be made in a phased manner. The plan is to expand capacities in chemistry and informatics on the drug discovery front.
Read more in The Economic Times article.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment