Hyderabad: Laurus Labs Ltd today announced that its subsidiary, Laurus Bio, has signed an agreement for equity investment of ₹ 120 Cr from Eight Roads Ventures and F-Prime Capital.
A press release from the company said that Laurus Labs also agreed to co-invest an additional ₹ 40 Cr at the same valuation.
The Promoters of Laurus Bio have been issued share warrants, exercisable up to two years from the date of issue at the same valuation. “Laurus Labs or Eight Roads Ventures have the right to invest up to an additional amount of ₹ 35 Cr before December 2025 at the same valuation,” the press release added.
Upon completion of the transaction, the company, Eight Roads Ventures, and the Promoters of Laurus Bio will hold 75%, 14%, and 9% stakes respectively on a fully diluted basis. The company will utilize the equity infusion for the expansion of its fermentation-based manufacturing capabilities to cater to growing customer demand.
Dr. Satyanarayana Chava, Founder & CEO of Laurus Labs, and Rajesh Krishnamurthy, CEO of Laurus Bio commented, “We are pleased to announce rejoining the partnership with Eight Roads Ventures and Laurus Lab’s 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. Eight Roads Ventures brings a global network, relevant industry experience, and a strong track record of biopharmaceuticals and CDMO investing. This investment will enable the company to further expand and accelerate microbial-fermentation capabilities, including faster development of new products, speed-up internal pipeline, enhancing high-quality commercial-scale capacity to partners, and growing our industry position.”
Dr. Prem Pavoor, Managing Partner, Eight Roads Ventures India, commented: “We are thrilled to reunite with two of our former partners – Laurus Labs & Laurus Bio (formerly Richcore Lifesciences) who have built a best-in-class biomanufacturing platform to cater to the growing global demand for sustainable manufacturing technologies.
Biomanufacturing is already being utilized across a range of industries including personal care, materials, food and nutrition, and pharmaceuticals. We are looking forward to growing Laurus Bio into a global leader in this emerging segment.”
