General Atlantic to invest $100 million in Rubicon1 min read . Updated: 08 Apr 2019, 10:14 PM IST
- Rubicon plans to use the money to bring to market innovative medicines and expand manufacturing across the world
- General Atlantic had on 1 April acquired a majority stake in Rubicon by buying out existing investor Everstone Group
Mumbai: Private equity firm General Atlantic will invest $100 million in Rubicon Research Pvt. Ltd, the pharmaceutical product development company in which it acquired a controlling stake last week.
Rubicon Research said in a statement that it plans to use the money to bring to market innovative medicines using its proprietary drug delivery technologies and expand manufacturing across the world.
“With GA’s growth focus, capital resources, strategic outlook and global connectivity, Rubicon will be able to accelerate its growth through organic and inorganic efforts. With initiatives like Grow Together, Rubicon intends to bring to market innovative technologies and medicines to improve the quality of patients’ lives," said Pratibha Pilgaonkar, founder and chief executive officer of Rubicon.
Grow Together is platform through which Rubicon will back, with both capital and strategic support, seed and early-stage ventures in the traditional pharmaceutical domain as well as allied domains involving the application of emerging technologies like artificial intelligence, continuous manufacturing and big data in the pharmaceutical industry.
General Atlantic acquired a majority stake in the company last week by buying out existing investor Everstone Group, which had invested in the company in 2016.
Founded in 2001, Rubicon has established itself as an outsourcing partner to the global healthcare and pharmaceutical industry.
“We have been extremely impressed by the Rubicon team and the quality of the company’s R&D. Rubicon’s innovative technology platforms are a real differentiator and position the company to sustain its strong growth in the complex and specialty generics market," said Sandeep Naik, managing director and head of India and Asia-Pacific at General Atlantic.
General Atlantic will work with Rubicon on a number of strategic initiatives including inorganic growth and geographic expansion of the company’s existing footprint.