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    • Biocon Biologics gets...

    Biocon Biologics gets Rs 536 crore investment from True North Fund

    Farhat NasimWritten by Farhat Nasim Published On 2020-01-22T13:09:14+05:30  |  Updated On 22 Jan 2020 1:09 PM IST
    Biocon Biologics gets Rs 536 crore investment from True North Fund

    New Delhi: Biocon recently announced that Biocon Biologics India has received the subscription money aggregating to Rs. 536.25 crore from Activ Pine LLP (an affiliate of True North Fund VI LLP).

    "Further to our intimation dated January 9, 2020, in relation to execution of a share subscription agreement ("SSA") and a shareholder agreement ("SHA") between Biocon Limited (the "Company"), Biocon Biologics India Limited ("BBIL") and Activ Pine LLP (an affiliate of True North Fund VI LLP), we wish to inform you that the subscription money aggregating to Rs536.25cr have been received by BBIL from Activ Pine LLP," Biocon said in a filling.

    Also Read: Biocon Chief Kiran Mazumdar Shaw Bags Order Of Australia Honour

    Consequently, the Board of BBIL has approved the allotment of 50,25,463 equity shares (Fifty lakhs Twenty Five Thousand Four Hundred and Sixty Three Only) of Rs. 10 each at a price of Rs. 1,067.07 per equity share (including a premium of Rs. 1,057.07 per equity share) to Activ Pine LLP, Biocon added.

    Bangalore-based Biocon manufactures generic active pharmaceutical ingredients (APIs). It also manufactures novel biologics, as well as, biosimilar insulins and antibodies, which are sold in India as branded formulations.

    Also Read: Biocon Bengaluru Facility Clears USFDA Inspection

    Disclaimer: This site is primarily intended for healthcare professionals. Any content/information on this website does not replace the advice of medical and/or health professionals and should not be construed as medical/diagnostic advice/endorsement or prescription. Use of this site is subject to our terms of use, privacy policy, advertisement policy. © 2020 Minerva Medical Treatment Pvt Ltd

    Farhat Nasim
    Farhat Nasim

      Farhat Nasim joined Medical Dialogue an Editor for the Business Section in 2017. She Covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She is a graduate of St.Xavier’s College Ranchi. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751 To know about our editorial team click here

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