Investment to help address new opportunities, says Kantipudi
Goldman Sachs, an active investor in India having deployed more than US$3.6 billion, has taken a significant minority stake in Aragen Life Sciences, formerly known as GVK Biosciences and a leading contract research organization (CRO). It is acquiring shares previously held by ChrysCapital and other existing shareholders.
“We believe this new investment at this important juncture in our company’s development underscores the tremendous opportunity ahead. Working with Goldman Sachs, we are well-positioned to address the opportunities in front of us to become a leading, global player with comprehensive end-to-end solutions for drug discovery and development,” Manni Kantipudi, CEO of Aragen Life Sciences, said in a release on 19 May 2021 from Hyderabad.
“Aragen is well-positioned to benefit from the secular trend of increased outsourcing by the life sciences industry. With a clear value creation plan in place, we look forward to closely working with the management and shareholders of Aragen,” said Rajat Sood, a managing director at Goldman Sachs Asset Management.
“Goldman Sachs is actively seeking to invest and foster leading, national champions of India who are building companies of a global scale,” said Sood.
“As an experienced global investor in the healthcare sector and India, we look forward to leveraging our worldwide network and experience to help expand Aragen’s portfolio of differentiated offerings and client base to accelerate the company’s growth,” said Michael Bruun, a managing director at Goldman Sachs Asset Management.
Raghav Ramdev, Managing Director at ChrysCapital, added, “We are proud to have seen Aragen grow and scale from providing discovery services to successfully expand into development and manufacturing, as well as biologics. It has evolved into an industry leader with a strong base of innovator clients.”
Goldman Sachs is an active investor in India, deploying more than US$3.6 billion in capital since 2006. Previous investments in Indian healthcare include Biocon Biologics, BPL Medical Technologies, CyteCare Hospitals, Max India and Nova Medical Centers.
Aragen is a leading provider of outsourced discovery, development, and manufacturing services across both large and small molecule platforms. The company serves a worldwide customer base which spans to the United States, Europe, and Japan. Aragen has demonstrated strong organic growth on the back of deep domain expertise, strong global delivery capabilities, and partnerships with global biopharmaceutical and biotech clients. #investment #banking #technology #health /fiinews.com
