Eight Roads Ventures & F-Prime Capital to Invest INR 120 Cr in Laurus Bio

In addition to the external funding, Laurus Labs will co-invest INR 40 Cr in Laurus Bio at the same valuation.

Eight Roads Ventures and F-Prime Capital have announced an investment of INR 120 Cr in Laurus Bio, a subsidiary of Laurus Labs, to enhance fermentation-based manufacturing capabilities.

Recently, Laurus Labs disclosed the development in a filing to stock exchanges.

In addition to the external funding, Laurus Labs will co-invest INR 40 Cr in Laurus Bio at the same valuation.

The funds are earmarked for expanding Laurus Bio's animal-origin-free recombinant protein manufacturing to meet increasing demand.

According to the announcement, the investment from Eight Roads Ventures and F-Prime Capital will be completed by the end of December, while Laurus Labs' contribution is scheduled for infusion by June 30, 2025.

Despite the investment, Laurus Labs will retain a majority stake of 75% in Laurus Bio, with Eight Roads Ventures and Laurus Bio's promoters holding 14% and 9% stakes, respectively, on a fully diluted basis. The remaining equity will be held by other shareholders.

In a joint statement, Dr Satyanarayana Chava, founder and CEO of Laurus Labs, and Rajesh Krishnamurthy, CEO of Laurus Bio, said, "We are pleased to announce rejoining the partnership with Eight Roads Ventures and Laurus Labs' continued commitment with an additional investment into Laurus Bio. The company, promoters of Laurus Bio, Eight Roads Ventures, and F-Prime Capital, will drive expansion of the manufacturing and R&D infrastructure to further accelerate growth opportunities."

They highlighted that Eight Roads Ventures brings "a global network, relevant industry experience, and a strong track record of biopharmaceuticals and CDMO investing," which will aid in scaling microbial fermentation capabilities and enhancing commercial-scale capacity.

Prem Pavoor, managing partner of Eight Roads Ventures India, while lauding Laurus Labs and Laurus Bio's "best-in-class biomanufacturing platform," said, We are looking forward to growing Laurus Bio into a global leader in this emerging segment."

This strategic investment is expected to bolster Laurus Bio's growth trajectory and further its position in the biomanufacturing industry.

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