Laurus Bio secures equity infusion of Rs 120 crore

Hyderabad: Laurus Labs Ltd. has announced that its subsidiary, Laurus Bio, has signed a definitive agreement for an equity investment of Rs 120 Crore from Eight Roads Ventures and F-Prime Capital.

Laurus Labs also agreed to co-invest an additional Rs 40 Crore at the same valuation. The Promoters of Laurus Bio have also been issued share warrants, exercisable up to two years from the date of issue at the same valuation.

Laurus Labs or Eight Roads Ventures have the right to invest up to an additional amount of Rs 35 Crore before Dec 2025 at the same valuation.

Upon completion of the transaction, the Company, Eight Roads Ventures and the Promoters of Laurus Bio will hold 75%, 14% and 9% stake respectively on a fully diluted basis. The Company will utilize the equity infusion for further expansion of its fermentation-based manufacturing capabilities in order to cater to growing customer demand.

Dr. Satyanarayana Chava, Founder & CEO of Laurus Labs and Rajesh Krishnamurthy, CEO of Laurus Bio commented; “We are pleased to announce rejoining the partnership with Eight Roads Ventures and Laurus Lab’s continued commitment with an additional investment into Laurus Bio. The Company, promoters of Laurus Bio, Eight Roads Ventures and F-Prime Capital will drive expansion of the manufacturing and R&D infrastructure to further accelerate growth opportunities. Eight Roads Ventures brings a global network, relevant industry experience and a strong track record of biopharmaceuticals and CDMO investing. This investment will enable the company to further expand and accelerate microbial-fermentation capabilities, including faster development of new products, speed-up internal pipeline, enhancing high quality commercial-scale capacity to partners and growing our industry position.”