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CSIR-IICT ties up with Anthem Biosciences to make anti-Covid drug 2-DG
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CSIR-IICT, Bengaluru pharma firm join hands to make Covid drug 2-DG
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Indian PE firm True North to acquire minority stake in Anthem Biosciences
Photographer: Krisztian Bocsi/Bloomberg
March 2, 2021
Homegrown private equity firm True North has signed definitive documents to acquire a minority stake in Bengaluru-based Anthem Biosciences Pvt Ltd, which is an integrated drug discovery, development and manufacturing services provider.
Financial details of the transaction were not disclosed.
In an official statement, True North said that it will partner with Anthem Biosciences founders Ajay Bhardwaj, Ganesh Sambavisan, and KC Ravindra to help the company invest growth capital towards expanding capacity and capability for its next growth phase.
“We have been closely following the growth story of Anthem Biosciences and are impressed with the progress the team has made in becoming a globally competitive player in the fast-growing CDMO (contract development and manufacturing company) industry,” said True North partner Satish Chander.