Themis Laboratories Pvt Ltd, a leading pharmaceutical company specializing in developing and manufacturing of pharmaceutical formulations using novel drug delivery systems has received an equity investment of Rs. 900 million from NYLIM Jacob Ballas India Fund III, LLC a Mauritius based Private Equity investor.

The company is one of India's leading novel drug delivery companies with a robust pipeline backed by a strong research and development. "This investment by NYLIM Jacob Ballas India Fund would help strengthen the company's foray into the regulated markets. We believe this partnership will help us to be a significant player in the global NDDS space," informed Janak Shah, chairman, Themis Laboratories.

The investment would be utilized to finance the setting up of a new R&D facility and to establish a marketing network in overseas export markets.

Bharat Bakhshi, partner & investment advisor to NYLIM Jacob Ballas India Fund, has now joined the Board of Directors of Themis Labs.

"Themis Labs has developed long term relationships with leading pharmaceutical companies in India to develop and manufacture NDDS formulations. Given the numerous benefits offered by NDDS formulations, we are confident that the company will show continued success," added Bakhshi.

JBC, based in New Delhi, is the investment advisor to three India focused private equity funds, New York Life International India Fund (Mauritius), LLC, New York Life Investment Management India Fund II LLC and NYLIM Jacob Ballas India Fund III, LLC.