– Use of proceeds to fuel its growth plans across divisions and foray into adjacent categories –
Chennai : LifeCell International Private Limited, India’s leading stem cell bank, and reproductive genetic testing services provider, today announces the successful fundraise of ₹225cr from OrbiMed Asia Partners IV, a leading healthcare investment firm. As part of this round, the existing founders of LifeCell shall also participate by investing ₹30cr.
Commenting on the fundraise, Mayur Abhaya, Managing Director, LifeCell International, noted “We thank OrbiMed for backing LifeCell to support its growth. Having transformed the approach in cord blood stem cell preservation through its innovative community banking model, LifeCell has over the last few years undertaken several growth initiatives in genetic and genomic testing for maternal and newborn health, and innovative placental tissue-based products for wound healing. With demonstrated market leadership across segments, LifeCell seeks to further leverage its technological expertise, strong brand position, and wide network, to foray into adjacent new categories like Fertility Heath and Cell-based therapeutics. These funds will help accelerate this agenda and further strengthen our market position”.
Dr. Sunny Sharma, Senior Managing Director, OrbiMed Asia, will join the Board of LifeCell upon the closure of this transaction. Dr. Sharma said, “LifeCell has built a trusted healthcare brand in maternal and newborn health through innovation and service. We are very excited to partner with Mayur and his team in the next stage of LifeCell’s growth”.
Ernst & Young LLP acted as the investment banking advisor to LifeCell and LKS acted as the legal advisor.