Chennai Chennai-based Malladi Drugs and Pharmaceuticals Limited (Malladi) has raised Rs 250 crore for a minority stake from India Life Sciences Fund, a leading health care and life sciences focused mid-market private equity fund. The funds raised would be used for capacity expansion and launching new molecules.
“ILSF is very happy to partner with Malladi, which is poised to grow rapidly, driven by its fermentation expertise, its global leadership in certain APIs, its exciting pipeline of products and the strong relationships it has nurtured with its global customers,” said TP Devarajan, senior managing director – InvAscent, a statement said on Monday.
Prashant Malladi, chairman, Malladi Drugs said, “We believe InvAscent’s deep understanding of the pharma API/CDMO space and its track record as a value-adding investor will make this a mutually beneficial partnership”. Veda Corporate Advisors was the exclusive financial advisor to the company and its promoters.
Malladi Drugs is engaged in the business of manufacturing & selling of active pharmaceutical ingredients (API’s) and intermediates and contract development of drug products. The company sells to customers in over 60 countries.