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Former Biocon execs' CRAMS firm Anthem Bio eyes pre-IPO funding

Bengaluru-based pharma contract research company Anthem Biosciences Pvt. Ltd, which hit the billion-dollar valuation mark two years ago after private equity player True North bought .. ....

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true north: True North set to buy 8-10% stake in Anthem for Rs 740 cr


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Mumbai: Outbidding global buyout funds, home grown private equity fund True North is all set to acquire a minority stake in Bengaluru-based contract research and manufacturing services firm Anthem Biosciences, multiple people aware of the development said.
True North will acquire about 8-10 per cent stake in Anthem Biosciences for Rs 740 crore ($75-100 million), at a valuation of $1 billion (Rs 7,400 crore).
Others who were in the race include US funds Warburg Pincus, General Atlantic and Singapore-based Temasek Holdings. The deal is expected to be signed by next week, sources added.
Set up by ex-Biocon executive Ajay Bharadwaj, Rs 1,200-crore Anthem Biosciences competes with Biocon-owned ....

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