LifeWell Diagnostics to raise Rs.184-Cr led by OrbiMed

Chennai-based diagnosis centres chain and stem cell bank LifeWell (the merged entity of mFine and LifeCell International’s diagnostic business) is raising INR 184 crore (about USD 22 million) in a pre-IPO round led by existing investor OrbiMed. LifeWell would issue 43,18,865 compulsorily convertible preference shares (CCPS) at INR 426.71 each to raise to INR 184 crore.OrbiMed will inject INR 150 crore while Cellution Biostorage will invest INR 30 crore in LifeWell. Individuals S. Vinod Kumar, Sanjay Singh Kumar Jain, Siremal Kothjari, and others will also invest in this round.Besides operating a stem cell bank, LifeWell has a pan-India presence in over 150 cities offering 4500+ tests through its labs.