Tata Capital Growth fund to invest $30 mn in Biocon Biologics
Biocon Ltd, an innovation-led global biopharmaceuticals company, announced that the Board of its subsidiary Biocon Biologics India Limited (Biocon Biologics) has approved a primary equity investment by Tata Capital Growth Fund. Post the completion of this transaction, Biocon will hold 95.25% stake in Biocon Biologics. We appreciate the conviction of our institutional investors in the ‘value creation’ story of Biocon Biologics as a fully integrated ‘pure-play’ global biosimilars company. “The equity infusion by Tata Capital will enable Biocon Biologics’ future growth through prudent capital allocation, while we continue our investments in R&D and manufacturing to meet the growing demands of patients worldwide. Biocon Biologics is engaged in developing high-quality, affordable biosimilars aimed at expanding patient access to a cutting-edge class of therapies across the world.