Bharat Serums and Vaccines Limited (BSV) announced the completion of a financing round from OrbiMed’s Caduceus Asia Mauritius Limited. BSV, promoted by the Daftary Group, a bio-pharmaceutical company in India is engaged in research, manufacturing and marketing of niche life saving injectible drugs with significant technological barriers. The company has a wide range of biological, pharma and biotech products.
The company has wholly owned research subsidiaries in USA and Europe, and for several years has been focusing on research and development of novel and innovative drugs that provide substantial benefits over existing therapies.
"We are very excited about the investment in BSV. The company is uniquely positioned in terms of its in-house research capabilities, robust product portfolio and pipeline, growing intellectual property value and a solid sales and distribution network," said Dr Sunny Sharma, senior managing director of OrbiMed Advisors India. "We look forward to working with BSV towards its continued success,"
"Investment in BSV by one of the largest healthcare focused funds validates our Company’s research, manufacturing and marketing capabilities and distinctive business model. OrbiMed’s investment and involvement will considerably facilitate the next stage of BSV’s growth," said Bharat Daftary, chairman and managing director of BSV. "BSV continues to be at the forefront of proprietary research of value added therapeutics and the investment by a knowledgeable investor like OrbiMed acts a booster for our self belief, long term value generation and growth prospects. We look forward to a strategic partnership in our exciting journey ahead," said Dr Gautam Daftary, vice chairman and managing director of the Company.
OrbiMed is the world's largest healthcare-dedicated investment firm, with approximately US$ 5 billion in assets under management.