NewswireToday - /newswire/ -
Hyderabad, Andhra Pradesh, India, 2007/11/26 - GVK Biosciences Private Limited (GVK BIO), a leading Pharma & Biotech research and development outsourcing company, today announced that Sequoia Capital a leading global private investment firm has invested Rs.100 crores in GVK BIO.
GVK BIO started operations in 2001 at Hyderabad and within a short span of 6 years; the company has established itself as a leading Contract Research Organization in India.
GVK BIO has been very successful in expanding its services across the Pharma value chain. Currently GVK BIO is the only Indian CRO that provides 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. This service breadth gives GVK BIO an edge, as clients look to grow their relationships with Indian CROs from a vendor-based relationship to strategic partnerships.
Mr. D.S. Brar, Chairman, GVK BIO said “We are delighted to have Sequoia Capital as our partners. Sequoia has funded and helped build world-class companies and will further assist in GVK BIO’s expansion plans”.
Dimensions Consulting of Gurgaon were the advisors to GVK BIO for the transaction.
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 Mr. Sandeep Singhal to the Board of GVK BIO
Mr. Sandeep Singhal, Managing Director, Sequoia Capital said”We are very excited to be shareholders in GVK BIO. The rapid growth of the company in the last few years has made it a global leader in the CRO market. With the strength of its management and leadership, we believe that the company is on its way to become a dominant force in the life science industry.”
About GVK BIO
GVK Biosciences, India’s premier Contract Research Organization, delivers integrated research services to big Pharma and Biotech companies globally. The company accelerates the Drug Discovery and Development process of its customers through science and innovation. Currently the company has more than 1,300 employees spread across facilities in Hyderabad, Chennai and Gurgaon.
About Sequoia Capital
Sequoia Capital India, a market leader in private equity and venture has invested in India in over 30 companies over the last 6 years, including market leaders such as Applabs, Bharti Telesoft, Café Coffee Day, First source, Indiatimes, Indecomm, marketRx, Paras Pharmaceuticals, SKS Microfinance, Tutorvista etc. Sequoia Capital India manages four funds totaling $1:1 Billion focused on investments in India across sectors. Globally Sequoia Capital has funded leaders such as Google, YouTube, Cisco, Edelweiss, Zavata, etc.
About Dimensions Consulting
Dimensions Consulting is an investment banking boutique which has exclusively advised GVK BIO on this transaction and has done corporate finance transactions of over USD 500 million.