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Advent-owned Suven Pharma to buy majority stake in NJ Bio for $64 mn
VCCircle
·
9m ago
Medial
Indian contract development and manufacturing organization (CDMO) Suven Pharma, owned by private equity firm Advent International, is set to acquire a majority stake in US-based NJ Bio for $64.4 million. Suven Pharma will purchase a 56% stake in NJ Bio, a technology-driven CDMO specializing in complex drug modalities, at a pre-money valuation of $100 million. The deal will involve a combination of primary and secondary investments, with Suven paying $49.4 million to buy out existing minority shareholders and infusing $15 million in primary equity. The transaction is expected to close this month.
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Advent-controlled Suven Pharma appoints former Piramal exec as chairman
VCCircle
·
11m ago
Medial
Suven Pharmaceuticals, controlled by private equity firm Advent International, has appointed Vivek Sharma as its new executive chairman. Sharma, former CEO of Piramal Pharma Solutions, takes over from Annaswamy Vaidheesh, who will become vice-chair of Suven's Advisory Council. The move comes as Advent plans to merge its pharmaceutical portfolio companies Cohance Lifesciences and Suven to create a diversified contract development and manufacturing organization and active pharmaceutical ingredients leader in India. Advent acquired a majority stake in Suven in December 2022. Suven reported a net profit of INR 300.3 crore ($39.8 million) for the fiscal year 2023-2024, down 27% from the preceding year.
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Suven Pharma to acquire majority stake in Sapala Organics for $27 mn
VCCircle
·
1y ago
Medial
Suven Pharma, owned by private equity firm Advent, has agreed to acquire a 67.5% stake in Sapala Organics, a contract development and manufacturing organization (CDMO) based in Hyderabad, India, for around $27.5 million. Suven intends to acquire the remaining stake by 2026-27 through a secondary transaction. Sapala focuses on oligo drugs and nucleic acid building blocks. The acquisition will strengthen Suven's position in the market and allow it to expand its offerings. The transaction is expected to be completed over the next 12-15 months, pending regulatory and shareholder approvals.
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Advent kickstarts merger process of Suven Pharma & Cohance; engages Kotak & Citi
Money Control
·
1y ago
Medial
Private equity fund Advent International is working on a merger between its portfolio companies Suven Pharmaceuticals and Cohance Lifesciences, with the aim of creating an end-to-end contract development and manufacturing organization (CDMO) and active pharmaceutical ingredient (API) firm. The merger is set to be evaluated by the board, taking into consideration its strategic rationale and benefits for Suven Pharmaceuticals' shareholders. Investment banks Kotak Mahindra Capital and Citi have been appointed as advisors for the proposed deal. This move follows Advent International's recent acquisition of a majority stake in Suven Pharmaceuticals.
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Advent International to invest $296 mn in Apollo Hospital unit
VCCircle
·
1y ago
Medial
US private equity firm, Advent International, has agreed to invest INR 2,475 crore ($296m) to acquire a minority stake in Apollo HealthCo. The investment will allow for the merger of wholesale pharma distribution company Keimed and digital healthcare business Apollo 24/7. Advent will invest in two tranches to acquire a 12.1% stake in the merged entity, giving Apollo HealthCo an enterprise value of INR 22,481 crore. Following the merger, Apollo Hospitals will remain the largest controlling shareholder with a stake of at least 59.2%.
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Suven Pharma mulls inorganic push for its core business
VCCircle
·
1y ago
Medial
Suven Pharmaceuticals, owned by private equity firm Advent, is considering acquisitions in the technology sector to strengthen its contract development and manufacturing organization (CDMO) platform. The company, based in Hyderabad, is focused on pharmaceuticals and fine chemical intermediates. Suven Pharmaceuticals is currently evaluating potential deals with three to four companies in the oligo and peptide synthesis space. This move aligns with the company's strategy to enhance its core business through inorganic growth opportunities.
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Eight Roads Ventures, F-Prime investing $14 mn in Laurus Labs unit
VCCircle
·
9m ago
Medial
Indian pharmaceutical company Laurus Labs is securing equity funding of INR 120 crore ($14.2 million) from global venture capital firm Eight Roads Ventures and F-Prime Capital for its biotech unit, Laurus Bio. Laurus Labs will also invest an additional INR 40 crore in the unit. The investment will support Laurus Bio's expansion of fermentation-based manufacturing capabilities and drive growth opportunities in manufacturing and R&D infrastructure. Following the transaction, Laurus Labs, Eight Roads Ventures, and the promoters of Laurus Bio will hold stakes of 75%, 14%, and 9%, respectively. Laurus Labs entered the biotech sector in 2020 through acquiring a majority stake in Richcore Lifesciences, later renamed Laurus Bio.
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Cohance Lifesciences announces $10 million investment in US-based arm
Economic Times
·
29d ago
Medial
Cohance Lifesciences has announced a $10 million investment to enhance the bioconjugation capabilities of its US-based subsidiary, NJ Bio. This strategic investment aims to expand Cohance's global presence in niche technology-led modalities, supporting innovators from early development through late-phase clinical supply. The investment will bolster NJ Bio's capabilities in delivering fully integrated Antibody-Drug Conjugate (ADC) solutions, thus accelerating development timelines for innovative therapies. Cohance is also advancing its oligonucleotide manufacturing facility in Hyderabad.
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Advent to merge Cohance, Suven in share-swap deal
VCCircle
·
1y ago
Medial
Global private equity firm Advent International has announced plans to merge pharmaceutical companies Cohance Lifesciences and Suven Pharmaceuticals in a share-swap deal. The merger aims to create a diversified contract development and manufacturing organisation (CDMO) and active pharmaceutical ingredient (API) leader in India. Under the proposed scheme, shareholders of Cohance will receive 11 shares of Suven for every 295 shares of Cohance. The transaction is expected to be completed in the next 12-15 months, subject to shareholder and regulatory approvals.
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Bain, KKR, CPPIB eye new deals; Advent moves ahead with twin exits
VCCircle
·
1y ago
Medial
Bain Capital is reportedly in talks with Macquarie Capital to acquire a majority stake in a green power provider for commercial and industrial units. This comes after Bain Capital recently sold a 1.1% stake in Axis Bank. Additionally, KKR and Canada Pension Plan Investment Board are also said to be eyeing new deals, while Advent is progressing with two exits.
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Wipro inks $66 mn deal to acquire US insurtech firm Aggne
VCCircle
·
1y ago
Medial
Indian IT services major Wipro is set to acquire a majority stake in insurtech firm Aggne Global for $66m in an all-cash deal. Wipro will initially purchase a 60% stake in the Florida-based company and its India-based affiliate, with the option to buy the remaining stake in the future. Aggne, founded in 2019, provides IT, consulting, and managed services to the property and casualty insurance industry. The acquisition is expected to bolster Wipro's position in the insurance market and enhance its range of offerings.
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