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Sequoia Capital India has invested Rs 100 crore or $25 million in GVK Biosciences Pvt Ltd, a leading pharma and biotech research and development outsourcing company. Hyderabad based GVK BIO started operations in 2001, and is now a leading contract research organisation in India. Former Ranbaxy CEO D S Brar is the chairman of the company.
Recently, as we reported first, Sequoia Capital India invested $12.5 million in a similar firm Sai Advantium for an 18.34 per cent stake. The Hyderabad based company offers complete chemistry services in support of drug discovery and development.
GVK Bio claims to provide an integrated service platform ranging from informatics, medchem and biology services in discovery research to clinical research and data management services on the development side and further to process research and custom synthesis, a release said.
GVK BIO intends to use these funds to: expand capacity in Drug Discovery services; build a state-of-the-art Campus at Hyderabad on a 25 acre site; provide new service offerings in Pre-clinical and Clinical space; pursue growth opportunities through mergers and acquisitions.
Sequoia Capital has nominated its managing director Sandeep Singhal to the board of GVK Bio. This is a growth capital investment for Sequoia. Dimensions Consulting of Gurgaon were the advisors to GVK Bio for the transaction.