OrbiMed's Fund Invests in Bharat Serums and Vaccines Limited
MUMBAI, India, April 6 Bharat Serums and Vaccines Limited (BSV or the Company), promoted by the Daftary Group, is one of the fastest growing bio-pharmaceutical companies in India, engaged in research, manufacturing and marketing of niche life- saving injectible drugs with significant technological barriers. The Company, which has a wide range of biological, pharma and biotech products, announced the completion of a financing round from OrbiMed's Caduceus Asia Mauritius Limited.
The Company has wholly owned research subsidiaries in USA and Europe, and for several years has been focusing on research and development of novel and innovative drugs that provide substantial benefits over existing therapies.
"We are very excited about the investment in BSV. The Company is uniquely positioned in terms of its in-house research capabilities, robust product portfolio and pipeline, growing intellectual property value and a solid sales and distribution network," said Dr. Sunny Sharma, Senior Managing Director of OrbiMed Advisors India. "We look forward to working with BSV towards its continued success." Dr. Sharma has joined the Board of Directors of BSV. He has more than 10 years of life sciences experience spanning venture capital, investment banking and clinical practice.
"Investment in BSV by one of the largest healthcare focused funds validates our Company's research, manufacturing and marketing capabilities and distinctive business model. OrbiMed's investment and involvement will considerably facilitate the next stage of BSV's growth," said Mr. Bharat Daftary, Chairman and Managing Director of BSV.
"BSV continues to be at the forefront of proprietary research of value added therapeutics and the investment by a knowledgeable investor like OrbiMed acts as a booster for our self belief, long term value generation and growth prospects. We look forward to a strategic partnership in our exciting journey ahead," said Dr. Gautam Daftary, Vice Chairman and Managing Director of the Company.
About OrbiMed Advisors LLC
OrbiMed is the world's largest healthcare-dedicated investment firm, with approximately $5 billion in assets under management. OrbiMed's investment advisory business was founded in 1989 with a vision to invest across the spectrum of healthcare companies: from private start-ups to large multinational companies. OrbiMed manages a series of venture capital funds and public equity investment funds. OrbiMed's investment team includes over 30 experienced professionals with backgrounds in science, medicine, industry, finance and law. The firm's diverse team of professionals has a unique understanding of industry dynamics through active participation in both public and private companies. OrbiMed's professionals work together in a collaborative, team-oriented approach which seamlessly integrates public and private equity platforms. OrbiMed seeks to be the capital provider of choice for life sciences companies pursuing growth and new opportunities. Where appropriate, particularly within its venture capital funds, OrbiMed supports its portfolio companies in achieving strategic, financial and operational objectives via participation at the Board of Directors level. OrbiMed professionals currently serve on the Board of Directors of dozens of different life sciences companies.
BSV is a public limited company incorporated in India. The primary focus of the Company is on the niche segment of life saving pharma, biological and biotech injectibles, which have significant technological barriers by leveraging on its R&D strength and in-house technology.
The Company has two manufacturing facilities in addition to its animal farms and a well equipped research center. BSV's product portfolio is comprised of a wide range of products covering biologicals, monoclonal antibodies, equine antitoxins and serums, hormones, anesthetics, antifungals, and cardiovascular formulations.
SOURCE Bharat Serums and Vaccines Limited
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