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Dr. Reddy’s to buy Haleon’s nicotine replacement therapy biz outside US for $633 mn
VCCircle
·
1y ago
Medial
Indian pharmaceutical company Dr. Reddy's Laboratories has agreed to acquire British consumer healthcare company Haleon's nicotine replacement therapy business outside the US for £500 million ($633 million). The deal includes the purchase of Haleon group company Northstar Switzerland, which owns the popular Nicotinell brand of nicotine gum, lozenges, and patches. The acquisition will expand Dr. Reddy's over-the-counter product portfolio and strengthen its presence in the consumer healthcare market. The transaction is expected to close in late 2024, subject to regulatory approvals.
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Zydus Life gets USFDA approval for Fludrocortisone Acetate tablets; shares trade flat
Money Control
·
9m ago
Medial
Zydus Lifesciences has received final approval from the US Food and Drug Administration (FDA) to produce Fludrocortisone Acetate Tablets USP, 0.1 mg. The tablets are used for partial replacement therapy in certain adrenal gland disorders. This latest approval brings Zydus Lifesciences' total number of approved products to 400, with over 465 ANDA filings since 2003. The tablets will be manufactured at their facility in Moraiya, Ahmedabad. Earlier this month, the company also entered into an agreement with the Indian Council of Medical Research for clinical trials of Desidustat in Sickle Cell Disease patients.
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Biocon-backed Bicara Therapeutics raises $315 mn in US IPO
VCCircle
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10m ago
Medial
Bicara Therapeutics, a cancer therapy developer backed by Biocon, has raised $315 million in its US initial public offering (IPO). The company priced its offering of 17.5 million shares at $18 each, valuing Bicara at $881.4 million. Bicara plans to use the proceeds to fund its mid-to-late stage study on its lead drug, ficerafusp alfa, which is being tested to treat head and neck cancer. The company's shares are expected to begin trading on the Nasdaq Global Market on September 13.
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Luma Fertility raises $4 Mn led by Peak XV’s Surge
Entrackr
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1m ago
Medial
Luma Fertility raises $4 Mn led by Peak XV’s Surge Fertility-tech startup Luma Fertility has raised $4 million in seed funding led by Peak XV’s Surge, with participation from Ameera Shah (Metropolis Healthcare) and Vijay Taparia (B2V Ventures). The proceeds will help Luma expand its footprint across Mumbai and scale to new cities over the next two years. Founded by Neha K. Motwani, Luma Fertility provides end-to-end fertility services including IVF, egg/embryo freezing, fertility assessments, and pre-conception care. Motwani had previously built fitness marketplace Fitternity which was acquired by Cult.fit (formerly Cure.fit) in February 2021. Luma has launched a 6,000 sq ft flagship tech-enabled clinic in Bandra, Mumbai. It also integrates holistic services such as nutrition, IV therapy, acupuncture, and at-home semen testing. The platform offers an IVF companion app, with tools for journey tracking, real-time reports, and LumaAI, a 24/7 assistant for cycle guidance and medication support. The clinic features an open lab design, transparency-first policies, and a dedicated care team for every patient. As per market research, India’s fertility rate is dipping below replacement (from 2.1 to 1.9), and IVF cycles are projected to grow from 320K in 2024 to 550K by 2028. Luma is also eyeing expansion into egg and embryo freezing services, catering to urban millennials and Gen Z consumers delaying parenthood.
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First Trump-branded office project in India eyes $289 mn in sales
VCCircle
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4m ago
Medial
Tribeca Developers, the Trump Organisation's partner in India, launched the first Trump-branded commercial real estate project, "Trump World Center," in Pune, targeting over $289 million in sales. India is now the Trump brand's largest real estate market outside the US. The project, in collaboration with Kundan Spaces, is expected to complete in four years. Tribeca plans to launch additional Trump-branded residential projects in northern and southern India soon, forecasting a combined sales potential of $1.15 billion.
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Blackstone buys $134-mn stake in Kolte-Patil Developers, enters housing market
VCCircle
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4m ago
Medial
Blackstone, a major US-based investment firm, has acquired a 40% stake in Pune's Kolte-Patil Developers for $134 million (Rs 1,167 crore). This deal involves a 14.3% stake via a preferential allotment and 25.7% from the promoters. Blackstone will also offer to buy 26% from public shareholders. This acquisition marks Blackstone's entry into India’s residential real estate market, complementing its existing investments in office properties, warehousing, and shopping malls.
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TikTok owner ByteDance offers to buy back shares from staff at $160 apiece
Economic Times
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1y ago
Medial
ByteDance, the parent company of TikTok, is offering to buy back shares from its employees outside the United States for $160 per share. This offer is in line with the one made to US employees in October. The buyback program aims to provide liquidity options for staff and allows them to cash in their shares without waiting for the company to go public. Previously valued at $300 billion, the current price values ByteDance at $223.5 billion. The company has stated that it has no imminent plans for an IPO due to increased scrutiny from the Chinese government.
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AstroTalk raises $20 mn led by Left Lane Capital
VCCircle
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1y ago
Medial
AstroTalk, an online marketplace for astrology solutions, has secured $20 million in a Series A funding round led by Left Lane Capital. The funding will be used for acquisitions, expanding into international markets, and strengthening its product and business verticals. AstroTalk plans to expand its services to the US, Canada, the UK, and the Middle East. The company currently generates 20% of its revenue from outside India and aims to take India's Vedic sciences worldwide. AstroTalk connects consumers with astrologers for various astrology-related services and has over 15,000 active astrologers and 4 million monthly consumers.
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Vidyut raises $2.5 Mn to expand battery-as-a-service financing biz
Entrackr
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5m ago
Medial
Snippets Vidyut raises $2.5 Mn to expand battery-as-a-service financing biz Bengaluru-based full-stack electric vehicle (EV) ecosystem platform Vidyut has raised $2.5 million in funding from global fintech investor Flourish Ventures. To date, Vidyut has raised over $16.5 million from 3one4 Capital, Credit Saison, Flourish Ventures, Zephyr Peacock, Lighthouse Canton, and other prominent investors. The firm concluded its $10 million Series A round in February last year. The funding will fuel the expansion of Vidyut's battery-as-a-service (BaaS) offerings in both passenger and commercial EV segments. This investment reinforces Vidyut's mission to accelerate India's clean energy transition by making EV ownership accessible and affordable for SMBs, the company said in a press release. Founded in 2021 by ex-Swiggy and Bounce executives Xitij Kothi and Gaurav Srivastava, Vidyut revolutionized commercial EV financing. By unbundling batteries from EVs and offering them on a pay-per-km subscription basis, Vidyut reduced upfront three-wheeler (3W) EV costs by 35-40%, making them significantly cheaper than ICE vehicles from day one. In 2023, Vidyut expanded its offerings to include EV resale and lifecycle management solutions, a move that has seen rapid customer adoption and market traction. In September 2024, the company entered the passenger EV market through a partnership with JSW MG Motor India, marking India's first BaaS model for four-wheelers that cuts upfront vehicle costs by 30%. With key industry partners such as TATA Motors, JSW, MG Motor India, Mahindra Last Mile Mobility, Piaggio, and Euler Motors, along with a strong distribution network spanning 30 cities, Vidyut has enabled micro-entrepreneurs and fleet operators to embrace sustainable choices while boosting their earnings by 10-15% through EV adoption. "With proven unit economics, strong 15% month-on-month growth, and long-term OEM partnerships, this investment will help us scale our innovative financing and lifecycle solutions across new vehicle segments," said Xitij Kothi. The Bengaluru-based company also launched an EV resale platform for the three-wheeler commercial vehicle segment, which manages the entire process—from inspection and valuation to sale and RTO documentation. According to the company, this new platform has streamlined the resale process for commercial EV owners and has helped customers realize up to 10-15% higher returns than ICE counterparts in secondary markets. In the electric vehicle financing space, Vidyut competes with Revfin, Finayo, Mufin Green Finance, OTO, Evfin, and Hero FinCorp, among others.
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ChrysCapital raises $700 mn to keep NSE stake, return capital to sixth fund’s LPs
VCCircle
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1y ago
Medial
Private equity firm ChrysCapital has raised $700 million for a "continuation fund" to acquire the stake it holds in the National Stock Exchange (NSE). The fund has been anchored by US-based HarbourVest Partners, and European firms LGT Capital Partners and Pantheon Ventures. ChrysCapital used the fresh capital to buy out its Fund VI from the NSE, allowing it to return money to investors while giving new investors exposure to the Indian stock exchange. ChrysCapital has raised over $5 billion across nine funds and has invested more than $4 billion in over 100 deals.
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Advent-owned Suven Pharma to buy majority stake in NJ Bio for $64 mn
VCCircle
·
8m 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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