On Friday, Biocon Ltd stated in a regulatory notice that Biocon Biologics India has approved a primary equity investment by Tata Capital Growth Fund. As per the consensus, Tata Capital will be investing Rs 225 crore for a 0.85% minority stake in the biosimilar business, valuing Biocon Biologics at a valuation of Rs 26,250Cr, and an enterprise valuation of Rs 30,400Cr.
Biocon Biologics, a subordinate of Biocon Ltd, is involved in developing high-quality, affordable biosimilars with a goal of expanding patient access to a cutting-edge class of therapies around the world.
The business deal is an issue to standard condition models and agreements.
Dr Christiane Hamacher, the CEO, Biocon Biologics, mentioned in an interview “We are pleased with Tata Capital’s investment in Biocon Biologics, which is an endorsement of the value we have created through our showed success and efficiency as a global biosimilars player, with two products commercialized in the U.S. and the launch of the 3rd biosimilar on the anvil.”
Biocon is affianced in the advancement of high-quality, affordable biosimilars with a goal of expanding patient access to cutting-edge therapy around the globe. The company has one of the most prestigious biosimilars portfolios, a wide global footprint, state-of-the-art production facilities, world-class R&D labs and compliance standards, allowing it to complete unmet wants of patients.
Akhil Awasthi, Managing Partner, Tata, commented on the action as follows “The organisation is thrilled to join hands with Biocon Biologics, a pre-eminent player in Biopharmaceuticals, as part of our focal point on export-oriented production in world-competing organisations. This investment brings years of the brand worth of Tata’s and a very strong R&D established entrepreneur in, Dr Kiran Mazumdar-Shaw with a shining record of optimisation, investing and developing million-dollar ventures”.
Tata Capital Growth Fund
Tata Capital Growth Fund is a US$ 240 million private equity fund which manages third party capital raised from investors globally. The Fund targets growth capital investments in companies that derive a substantial portion of their revenues from operations in India.
TCGF targets investments around the themes of globalisation, Manufacturing and Strategic consulting. The company invests between US$ 10 million and US$ 35 million per transaction and holds minority stakes in its portfolio companies.
Several portfolio companies of TCGF have had a positive social impact (e.g. Home First Finance Company in affordable housing finance, Star Health in affordable health insurance, Janalakshmi Financial Services in microfinance, Nearex in digital financial inclusion and AESPL in women employment).
Biocon Biologics India Limited
Biocon Biologics India Limited a subsidiary of Biocon Ltd. It is uniquely placed as a completely integrated ‘pure-play’ biosimilars company in the world. Building on the pillars of Patients, People, Partners and Business.
Biocon Biologics is aimed at changing healthcare and lives. Biocon Biologics is providing advance science, innovative technology platforms and advanced research capabilities to decrease treatment costs while improving healthcare outcomes. It has a platform of 28 biosimilar molecules including plethora of diseases.
Earlier this month, the Company announced a global collaboration with Voluntis, a leader in digital therapeutics. The goal is to develop and distribute innovative digital therapeutics supporting people with diabetes on biologics therapy. This places the company as one of the first insulins company to offer a U.S. Food and Drug Administration approved and CE-marked, highly valued therapeutic good, Insulia®, to Type 2 diabetes patients, across the world.
Shares of BIOCON LTD. was last trading in BSE at Rs.403.4 as compared to the previous close of Rs. 395.8. The total number of shares traded during the day was 193713 in over 3470 trades.
The stock hit an intraday high of Rs. 404.75 and intraday low of 395.8. The net turnover during the day was Rs. 77688511.