Transaction:
- Beta Drugs, a vertically integrated cancer firm, raised INR 117 crore in a funding round led by HealthQuadFund II, Inti Capital and Generational Capital for a minority stake in the company.
- The stake has been given through preferential allotment of 707,651 CCDs and 100 equity shares.
About Beta Drugs Limited:
- Incorporated in 2005, as a part of Adley Group, is primarily involved in manufacturing of oncology products, offering a broad product portfolio across all major oncology segments, including chemotherapy, targeted, hormonal and supportive therapy.
- The company exports to over 46 countries and holds accreditations from key regulatory bodies, including ANVISA Brazil, INVIMA, PICS, and EAEU.
About Investors:
- Founded in 2014, HealthQuad is a healthcare transformation fund, backed by Quadria Capital, a healthcare focused PE fund in Asia and KOIS.
- Their Fund II portfolio investments include Qure.ai, ekincare, Red.health, Redcliffe Lifesciences, Wysa, GoApptiv, CureSkin, ImpactGuru, BeatO, and HealthifyMe.
Rationale:
- The funds will be used to accelerate Beta Drugs’ growth and solidify its position as one of India’s top five oncology companies in India over the next five years.
- Leveraging on HealthQuad’s and Inti Capital’s global network and industry knowledge, it aim to drive innovation, expand reach and improve patient care.
- In FY 24, the company reported Revenue of INR 296 Crores and Net profit of INR 36 Crores, delivering 25% NP margin and profit growth of 35.3% CAGR over last 5 years.
- According to Technavio, Indian oncology market size is estimated to grow by USD 1.49 billion from 2024-2028 with a CAGR of of 17.43% during the forecast period. Increased prevalence of cancer is driving market growth, with a trend towards rise in R&D for developing diagnostic devices.
Acknowledgements:
RBI Bulletin (www.bulletin.rbi.org.in), SEBI (www.sebi.gov.in), NSE (www.nseindia.com), BSE (www.bseindia.com)
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