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Healthcare-focused private equity fund Tata Capital Healthcare Fund II (TCHF II) announced that it has invested an amount of USD 20 million in Orbicular Pharmaceutical Technologies Private Limited for an undisclosed equity stake.
As per the official release, Orbicular will deploy the raised capital to accelerate the development of the product pipeline.
Dr M S Mohan, Managing Director, Orbicular, said, “Today is a transformative milestone in our journey from starting as a bootstrapped company to successfully being backed by Tata Capital Healthcare Fund. Having positioned Orbicular as a differentiated specialty pharmaceutical company in the complex generics space, the investment will further strengthen our global partnerships.”
This collaboration has been greatly aided by the contributions of Ritesh Desai, Executive Director of Pharma and Healthcare Investment Banking, and Vikas Khattar, MD, Co-Head of Investment Banking and ECM at Ambit.
Ambit acted as the exclusive financial advisor to Orbicular and its shareholders on this transaction.
Founded in 2010, Orbicular is a specialised pharmaceutical firm that specialises in complicated generics. Its pipeline includes complex injectables, topicals, ophthalmics, parenterals, nasal sprays or inhalations, and complex peptide combination products that target various treatment indications.
Dr Hiren Patel, Chief Executive Officer, Orbicular, said, “This new partnership with Tata Capital Healthcare Fund is a testament to our capabilities and will enable us to accelerate our R&D efforts, expand our portfolio, and strengthen our global partnerships.”
Tata Capital Limited-sponsored TCHF is a growth-oriented private equity fund that makes investments in the healthcare and life sciences industries. Having invested in 18 companies and exited six of them, it has raised almost USD 200 million in two funds.
“We are proud to support the dynamic team at Orbicular and be a part of their growth story. This investment reinforces our fund’s core philosophy of identifying the big shifts in the industry and being a “capital plus” partner to our companies,” added Visalakshi Chandramouli, Managing Partner, Tata Capital Healthcare Fund.
