Announced Date: April 2021
Anthem Biosciences raises private equity investment from True North
Anthem Biosciences Private Limited (“Anthem”), has raised equity capital from True North. Investment proceeds will support growth capital towards expanding capacity and capability for Anthem’s rapid growth phase. o3 Capital was the sole financial advisor to Anthem for this transaction.
Founded in 2007, Anthem is India’s fastest growing CDMO company, and one of the few companies with integrated drug discovery, development, and manufacturing services. It is a trusted partner of choice for both new-age Biotechnology Companies and as well as Global Big Pharma Customers. Anthem’s Founders have a very strong pedigree with 85+ years of experience in the CDMO industry. The Company’s state of the art R&D and manufacturing facilities are located near Bengaluru and have been successfully inspected by USFDA, PMDA (Japan), EDQM, etc.
Speaking on the collaboration, Ajay Bhardwaj, CEO and Managing Director, Anthem, said: “Anthem is at an inflection point in its growth after establishing its credentials as a researcher and manufacturer of both chemistry-based small molecule therapeutics and fermentation-based biopharmaceuticals. It’s a rarefied space where the company has very few peers worldwide. True North has been a pioneer in investing in Lifesciences and we are delighted with this association with India’s leading private equity fund. Because of their established track record and understanding of this space, for Anthem it was an easy decision to go with True North from the list of PEs who participated in this exercise. We now look forward to working jointly with them to take Anthem to new heights.”
True North, with ~US$ 3 billion AUM, is one of the earliest Private Equity Investors in India. One of the most active Life Sciences and Healthcare Investor, True North has committed ~USD 700 mn to the sector till date. Over the last two decades, True North has partnered with 50+ businesses including companies like Biocon, Syngene, Biocon Biologics, Manipal Hospitals, Aster DM Healthcare, Cloudnine, KIMS (Kerala) and Zydus Wellness.
Quoting on the transaction, Satish Chander, Partner, True North, stated, “Our investment in Anthem Biosciences reflects our commitment to drive growth in the Indian healthcare and pharmaceuticals sector. Anthem has scripted an impressive story since inception and has a strong, competitive positioning with an attractive product pipeline and long-standing relationship with its customers. Backed by certification from Global regulatory agencies, Anthem has the expertise to offer superior products at an affordable cost to the global customer base. We are looking forward to an exciting partnership with the team.”