Sequoia puts Rs 100 crore in GVK Bio

PRIVATE EQUITY WATCH

GVK Biosciences (GVK Bio), a Hyderabad-based pharma and biotech research and development outsourcing company, today announced that Sequoia Capital India has invested Rs 100 crore in the company. Sequoia Capital, a global private equity and venture capital company has invested in more than 30 Indian companies in the last 6 years.

The company 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 and pursue growth opportunities through mergers and acquisitions, according to a press release.

DS 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 regarding the transaction.

Sandeep Singhal, managing director of the private equity firm said the rapid growth of GVK Bio 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 hat the company is on its way to become a dominant force in the life science industry," he said. Sequoia Capital has nominated Singhal on the board of GVK Bio.

GVK Bio, which started operations in 2001, claims to be the only Indian company 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 process research and custom synthesis.

GVK BIO started operations at Hyderabad in 2001. The company has established itself as a leading contract research organization in India, within a short span of 6 years.