Industry

Stem cell bank LifeCell raises ₹225 crore

Stem cell bank and reproductive genetic testing service provider LifeCell International Pvt. Ltd. said that OrbiMed Asia Partners IV has invested ₹225 crore in return for a minority stake.

“We received an equity infusion of ₹225 crore from leading healthcare investment firm OrbiMed Asia Partners IV. The existing founders will invest ₹30 crore,” said Mayur Abhaya, MD.

The additional funds would enable LifeCell to make a foray into adjacent new categories such as fertility health and cell-based therapeutics. Besides, it would also enable the company grow its diagnostic division and set up laboratories offering varied kinds of tests.

Dr. Sunny Sharma, Senior MD, OrbiMed Asia, will join the LifeCell Board, it said in a statement.

OrbiMed with over $19 billion in assets under management invests globally across the healthcare industry through a range of private equity funds, public equity funds, and royalty/credit funds.


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Printable version | Oct 16, 2021 12:32:26 PM | https://www.thehindu.com/business/Industry/stem-cell-bank-lifecell-raises-225-crore/article36599232.ece

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