OneSource Specialty Pharma Raises $95 Mn in Equity Funding

The funding round was led by HBM Healthcare Investments and associated investors. Other participants included WhiteOak Capital, Param Capital, Motilal Oswal, Enam Holdings, SBI Life Insurance, and Valuequest Investment Advisors.

OneSource Specialty Pharma, an associate company of Strides, has successfully raised $95 million in equity funding at a pre-money equity valuation of $1.65 billion.

The fundraising initiative saw participation from a consortium of prominent domestic and international investors.

The funding round was led by HBM Healthcare Investments and associated investors. Other participants included WhiteOak Capital, Param Capital, Motilal Oswal, Enam Holdings, SBI Life Insurance, and Valuequest Investment Advisors.

According to the company, the allotment of equity shares was approved by the Management Committee of the Board of Directors of OneSource on November 21 and November 22, 2024. The issuance involved 6,277,909 fully paid-up equity shares at INR 1,276 per share, including a premium of INR 1,275, on a private placement basis. The total proceeds from the allotment amounted to INR 8,010 million.

The funds are expected to support the company’s ongoing and future business initiatives, further strengthening its market position.

Last year, Bengaluru-based Stride Pharma approved a scheme of arrangement to create OneSource, an independent specialty pharma contract development and manufacturing organization (CDMO).

Under the scheme, the CDMO business of Strides (oral technology), Steriscience (sterile injectables), and Stelis (biologics and high-end drug devices) merged to form OneSource.

The new specialty pharma aims to become a leading CDMO powerhouse, offering services in biologics, oral soft gels, complex injectables, and sterile injectables.

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