Private Equity Fund Investments
Stem cell bank LifeCell raises Rs.255-Cr from OrbiMed, existing investors
Chennai-based stem cell bank and reproductive genetic testing services provider LifeCell International has raised INR 225 crore from healthcare investment firm OrbiMed and INR 30 crore from the promoters of LifeCell. The funds would be used for meeting growth requirements and for entering adjacent categories. OrbiMed Asia senior managing director Sunny Sharma would join the Board of LifeCell on closure of the transaction. The company had reported revenues of INR 234 crore for the last year. Ernst and Young LLP acted as the investment banking advisor to LifeCell International Pvt Ltd, while LKS was the legal advisor.
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