Orbimed, the world’s largest healthcare-dedicated investment firm with approximately $5 billion in assets under management, has invested an undisclosed sum in bio-pharmaceutical company Bharat Serums and Vaccines Limited (BSV).
Promoted by the Daftary Group, BSV is engaged in research, manufacturing and marketing of niche life- saving injectible drugs with significant technological barriers and has wholly owned research subsidiaries in USA and Europe.
The company has two manufacturing facilities in addition to its animal farms and a research centre. BSV’s product portfolio comprises a wide range of products covering biologicals, monoclonal antibodies, equine antitoxins and serums, hormones, anesthetics, antifungals, and cardiovascular formulations.
OrbiMed has made this investment through Caduceus Asia Mauritius Limited.
“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 Sunny Sharma, senior managing director of OrbiMed Advisors India, in a statement.
Dr Sharma, who has more than 10 years of life sciences experience spanning venture capital, investment banking and clinical practice, has joined the board of BSV.
OrbiMed had, in its first deal in India in December 2009, invested in Bangalore-based clinical research organisation Ecron Acunova, which conducts clinical trials for pharmaceutical, biotech and medical device companies in Europe, Asia and the US.
OrbiMed manages a series of venture capital funds and public equity investment funds. Its investment team includes over 30 professionals with backgrounds in science, medicine, industry, finance and law.