Sovereign wealth fund ADQ to invest $75 million in Biocon Biologics, deal values firm at around $4 billion- Moneycontrol.com
Summary
Biocon Biologics secured a $75 million investment from Abu Dhabi sovereign wealth fund ADQ in exchange for a 1.8% stake. The transaction values the company at about $4.17 billion and marks the fourth fundraising round in the past 12 months. Biocon plans to use the capital to expand R&D and manufacturing capacity as it prepares for a future IPO. The deal also strengthens the company’s access to Middle East markets and supports its biosimilars growth strategy.
Funding
Amount
$75.0M
Total raised
Date
January 7, 2021
Announcement date
Investors
Goldman Sachs, Tata Capital, Biocon, True North
Lead investors
Company
bioconbiologics.com
Funded company
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