Biocon Biologics has raised ~USD 330 million from marquee private equity investors such as True North, Tata Capital, Goldman Sachs and ADQ.
The first private equity infusion of USD 75 million was made by Activ Pine LLP, an affiliate of True North Fund in January 2020. Activ Pine’s equity infusion was for a 2.44% stake at an equity valuation of USD 3 billion* on a pre-money basis.
In July 2020, Tata Capital Growth Fund invested Rs 225 Crore (~USD 30 million) for a 0.85% stake, valuing Biocon Biologics at an equity valuation of Rs 26,250 Crore (~USD 3.5 billion*).
Goldman Sachs issued Optionally Convertible Debentures (OCD) worth Rs 1,125 Crore (~USD 150 million) at a post-money equity valuation of USD 3.94 billion* in November 2020.
Abu Dhabi-based ADQ invested Rs 555 crore (~USD 75 million) for a 1.80% stake, valuing Biocon Biologics at a post-money valuation of ~USD 4.1 billion* in January 2021.
These investments validate Biocon Biologics’ science, scale, scope, strategy, and business prospects. It also reflects a high level of conviction in Biocon Biologics’ position as a global frontrunner in biosimilars which leverages its large-scale manufacturing capabilities to shift the access paradigm for these life-saving therapies.
Biocon Biologics has acquired the global biosimilars business of its long-term partner Viatris in a ‘cash and stock’ deal valued at over USD 3 billion. As a part of completing the transaction, Biocon Biologics has issued Compulsorily Convertible Preference Shares (CCPS) in the Company valued at USD 1 billion, equivalent to an equity stake of at least 12.9% on a fully diluted basis, and made an upfront cash payment of USD 2 billion to Viatris.
Biocon Biologics had also entered into a strategic alliance with Serum Institute Life Sciences (SILS) for vaccines in September 2021. Under the terms of the agreement, Biocon Biologics has offered ~15% stake to SILS, at a post-money valuation of ~USD 4.9 billion*.
*Calculated as on the date of signing of the deal