Upfront

GVK BIO raises Rs 100 crore from Sequoia Capital

GVK Biosciences (GVK BIO), a pharma and biotech research and development outsourcing company, has announced that Sequoia Capital, a global private investment firm has invested Rs 100 crore in the company. Currently GVK BIO is the only Indian CRO 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 further to process research and custom synthesis. This service breadth gives GVK BIO an edge, as clients look to grow their relationships with Indian CROs from a vendor-based relationship to strategic partnerships.

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." Dimensions Consulting of Gurgaon were the advisors to GVK BIO for the transaction. GVK BIO 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. Sequoia Capital has nominated Sandeep Singhal, Managing Director, Sequoia Capital, to the Board of GVK BIO. "We are very excited to be shareholders in GVK BIO. The rapid growth of the company 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 that the company is on its way to become a dominant force in the life science industry," said Singhal.