Sequoia Capital invests Rs 100cr in GVK Bio

Leading global private investment firm Sequoia Capital has invested Rs 100 crore in Hyderabad-based contract research firm GVK Biosciences (GVK Bio).

Sandeep Singhal, managing director, Sequoia Capital, has been nominated to the board of GVK Bio.

According to a statement issued by GVK Bio, the company intends to use the fund to expand capacity of drug discovery services by setting up a new state-of-the-art campus at Hyderabad on a 25-acre site, and providing new service offerings in pre-clinical and clinical space. The company also intends to pursue growth opportunities through mergers and acquisitions.

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."

Started in 2001, GVK Bio has been very successful in expanding its services across the pharma value chain. Currently, GVK Bio is the only Indian clinical research organisation (CRO) that provides an integrated service platform ranging from informatics, medchem and biology services in discovery research, clinical research and data management services on the development side, and process research and custom synthesis, the release said.

Dimensions Consulting of Gurgaon were the advisors to GVK Bio for the transaction.