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    OrbiMed Asia makes 7.5 million dollars funding in Vivimed Labs

    Written by Ruby Khatun Khatun   |  
    OrbiMed Asia makes 7.5 million dollars funding in Vivimed Labs

    New Delhi: Drug firm Vivimed Labs said it has received an additional investment of USD 7.5 million (over Rs 47 crore) from healthcare investment firm OrbiMed Asia in its subsidiary Vivimed Labs (Mascarene).


    The company had earlier received USD 42.5 million from OrbiMed Asia in September 2017, Vivimed Labs said in a BSE filing.

    The overseas subsidiary is the holding entity of the company's active pharmaceutical ingredient (API) business, it added.

    This additional follow-on investment by OrbiMed Asia reiterates the confidence of the investor in the Vivimed business model in the healthcare industry, Vivimed Labs MD Santosh Varalwar said.

    "The additional funds will fuel its growth opportunities overall," he added.
    Active Pharmaceutical IngredientadditionalAPIfundFund raisefund raisingfundinghealthcare industryhealthcare investment firmInvestmentOrbiMed AsiaSantosh VaralwarVivimedVivimed LaboratoriesVivimed Labs
    Source : PTI

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    Ruby Khatun Khatun
    Ruby Khatun Khatun
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