Goldman Sachs invests in Aragen Life Sciences; ChrysCap exits
Photo Credit: 123RF.com

Goldman Sachs has picked up a significant minority stake in contract research organisation Aragen Life Sciences. 

This has paved the way for the exit of homegrown private equity firm ChrysCapital and other shareholders, said Aragen, formerly GVK Biosciences. It did not disclose financial details. 

According to VCCEdge, ChrysCapital, which had invested in 2015, held 9% stake. Manni Kantipudi, CEO of Aragen, said that with the investment the company is well-positioned to become a global player with comprehensive end-to-end solutions for drug discovery and development. 

Michael Bruun, a managing director at Goldman Sachs Asset Management, said that it will leverage its worldwide network and experience to help expand Aragen’s portfolio and client base to accelerate the company’s growth. 

Rajat Sood, a managing director at Goldman Sachs Asset Management, said that Goldman Sachs is actively seeking to invest in Indian companies. 

Goldman Sachs has deployed more than $3.6 billion in India since 2006. 

In September last year, it invested in Biocon Ltd’s biosimilars unit Biocon Biologics Ltd. 

Its other healthcare bets in India include BPL Medical Technologies, CyteCare Hospitals, Max India and Nova Medical Centers. 

Meanwhile, ChrysCapital has been one of the more prolific investors in the country’s pharmaceuticals sector with bets on companies such as Intas Pharma, Mankind Pharma, Cadila, Eris Lifesciences, Ipca Labs and Torrent Pharma. It has also exited some of these companies.  

Leave Your Comment(s)