LifeCell International announces ₹225 cr fundraise from OrbiMed Asia Part1 min read . Updated: 21 Sep 2021, 05:02 PM IST
- LifeCell International's existing founders shall also participate by investing ₹30 crore in this funding round
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NEW DELHI: Indian stem cell bank LifeCell International Pvt. Ltd on Tuesday announced fundraise of ₹225 crore from a healthcare investment firm OrbiMed Asia Partners IV.
As part of this round the existing founders of LifeCell shall also participate by investing ₹30 crore. “Having transformed the approach in cord blood stem cell preservation through its innovative community banking model, LifeCell has over the last few years undertaken several growth initiatives in genetic and genomic testing for maternal and newborn health, and innovative placental tissue-based products for wound healing," Mayur Abhaya, managing director, LifeCell International said.
“LifeCell seeks to further leverage its technological expertise, strong brand position, and wide network, to foray into adjacent new categories like fertility health and cell-based therapeutics. These funds will help accelerate this agenda and further strengthen our market position," he said.
Dr Sunny Sharma, senior managing director, OrbiMed Asia, will join the board of LifeCell upon closure of this transaction. Ernst & Young LLP acted as the investment banking advisor to LifeCell and LKS acted as the legal advisor.
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