Sep 2, 2024

InvAscent has successfully exited its investment in Inventia, with a sale of its stake to Platinum Equity, a global investment firm specializing in the acquisition and operation of companies.

InvAscent invested in Inventia in 2020, recognizing the company’s potential in formulations and innovative drug delivery systems. The investment enabled Inventia to strengthen its operations, expand its market reach, and enhance its R&D capabilities. Over the years, Inventia has grown substantially, establishing itself as a key player in the industry with a robust portfolio of products and a strong presence in developed as well as emerging pharma markets.

Currently, Inventia serves as a partner to over 100 customers supplying semi-finished and finished OSD formulations for both regular and value-added generics across North America, South America, Europe, Southeast Asia, Middle East and Africa.

The sale to Platinum Equity marks a significant milestone for Inventia, providing the company with new opportunities to accelerate its growth and innovation agenda.

 About InvAscent

Founded in 2005, InvAscent is the investment advisor to a family of funds that operate under the name “India Life Sciences Fund” or ILSF. It has so far raised about USD 650 Mn from global investors across four funds and deployed the same in 36 companies across Pharma, Healthcare Delivery, HealthTech, Medical Devices, and Animal Health industries. The investment team at InvAscent has deep domain expertise and a track record of value creation in the Life Sciences space.

For more information about InvAscent, please visit www.invascent.com

May 2, 2024

InvAscent, through India Life Sciences IV (ILSF IV), in partnership Morgan Stanley Private Equity Asia, has invested INR 10,000 Mn in Maiva Pharma, India’s 2^nd largest pure play injectables Contract Development and Manufacturing Organization (CDMO).

Maiva has a US FDA, EU GMP and ANVISA approved state-of-the-art manufacturing facility located at Hosur, India with a strong regulatory compliance track record and sterile injectables capabilities in vials and lyophilized vials. The Company has a portfolio of 75+ products catering to 40+ customers across the US, Canada, Europe, Australia, and LATAM markets.

Maiva plans to use the proceeds from fund raise to set up a new manufacturing facility near Hosur, India with capabilities in sterile dosage forms including pre-filled syringes, bags, oncology and hormonal injectables.

Sumit Gupta, Managing Director at InvAscent (Investment Manager to India Life Sciences Fund IV) said, “We have known Bhaskar and team for more than a decade now and are very impressed with their journey to become a preferred injectables CDMO partner of choice for many of the large customers across US, Europe and other emerging markets. Complex injectables development and manufacturing capability, strong compliance and regulatory standards along with transparency and leadership, differentiate Maiva from its competitors. We are delighted to partner with Maiva in its vision to become a global leader in sterile injectables.”

Dr. Bhaskar Krishna, Managing Director and CEO at Maiva Pharma said, “Over the last three years, Maiva has quadrupled its manufacturing capacity for US, Canada, and EU markets. Based on continued strong interest from customers in partnering with Maiva, we will expand at a greenfield site near Hosur. This fundraise will be used to add more vial, lyophilization, and suspension capacity and introduce new manufacturing capabilities such as prefilled syringes, cartridges and bags. We are delighted to work with Morgan Stanley and InvAscent and we look forward to benefitting from their extensive experience in the healthcare space and their global reach.”

About InvAscent

Founded in 2005, InvAscent is the investment advisor to a family of funds that operate under the name “India Life Sciences Fund” or ILSF. It has so far raised about USD 650 Mn from global investors across four funds and deployed the same in 36 companies across Pharma, Healthcare Delivery, HealthTech, Medical Devices, and Animal Health industries. The investment team at InvAscent has deep domain expertise and a track record of value creation in the Life Sciences space.

For more information about InvAscent, please visit www.invascent.com

About Maiva Pharma Private Limited

Incorporated in 1993, Bengaluru based Maiva Pharma has built a reputation as a reliable supplier and partner for sterile injectables contract manufacturing, focusing on regulated markets. The company operates a manufacturing facility in Hosur, approved by US FDA, EU GMP and ANVISA, where it manufactures sterile solutions in vials and lyophilized vials. Maiva Pharma has gained recognition for its commitment to quality, compliance and ethical business practices in US, Europe, Canada, Australia and LATAM. The company’s services include – product development and commercial supply (CDMO), technology transfer for commercial supply and site transfer for commercial supply.

For more information about Maiva, please visit www.maivapharma.com

December 20, 2023

InvAscent, through India Life Sciences Fund IV (ILSF IV), has invested INR 1,100 Mn to acquire a minority stake in Fleming Laboratories, a leading active pharmaceutical ingredient (API) player headquartered in Hyderabad. The Company intends to expand capacity and to develop and launch new molecules.

The year 2023 has been a stellar one for InvAscent. It has made four investments and exited from five portfolio companies during the year.

JM Prakash, CEO & Managing Director, Fleming, said: “Fleming is in an exciting phase of growth and we think it is the right time for us to partner with InvAscent as we begin our next phase of growth. We believe we can leverage on the deep understanding of Ms. Nithya, Mr. Paritosh and the InvAscent team in the pharma API space for a mutually rewarding partnership”.

Nithya Govind, Managing Director, InvAscent, said, “with great chemistry skills and excellent operational capabilities, Fleming has established itself as one of the fastest growing API companies in the country.  We are very excited to partner with Prakash, Shiva and the entire team of Fleming, as they embark on an expansion plan with two more facilities being added shortly.”

Veda Corporate Advisors (“Veda”) was the exclusive financial advisor to the Company and its Promoters.

With over two decades of pharma experience, professional turned entrepreneurs Jeyamuruga Prakash & B Shivakumar picked up a controlling stake in Fleming Laboratories in 2015 and have turned it into a growing, debt-free, and profitable business. The primary investment will help the Company build its third manufacturing unit and support its foray into fermentation-based API manufacturing.

About Fleming

Headquartered in Hyderabad, Fleming is a backward integrated API manufacturer with global leadership in select muscle relaxant, anti-arthritis, and antihistamine APIs with two regulatory-approved manufacturing units. The company sells to customers in over 65 countries across Latin America, Europe, Asia, and MENA.

For more information about Fleming, please visit https://www.fleminglabs.com/

About InvAscent

InvAscent is the investment advisor to a family of funds that operate under the name “India Life Sciences Fund” or ILSF. It has so far raised ~ USD 500 Mn from global investors across four funds and deployed the same in 35 companies across Pharma, Healthcare Delivery, HealthTech, Medical Devices, and Animal Health industries. The investment team at InvAscent has deep domain expertise and a track record of value creation in the Life Sciences space.

For more information about InvAscent, please visit https://www.invascent.com/

December 20, 2023

Healthcare and life sciences focused private equity investor InvAscent, through India Life Sciences Fund IV (ILSF IV), has invested USD 10 Mn to acquire a minority stake in ABI Health Technologies Private Limited Ltd (ABI), a leading health-tech Software as a Service (SaaS) company headquartered in Bangalore.

Founded in 2018 by Ajit Veerappan, ABI is a prominent health-tech SaaS business which provides technology solutions to two major segments of the healthcare industry, namely, Hospitals and Diagnostic Labs.

ClaimBook automates a hospital’s entire health insurance claims management process. It uses Artificial Intelligence (AI) tools and technologies such as Robotic Process Automation (RPA) to help hospitals seamlessly and efficiently manage the claims process. ClaimBook has been implemented in over 300 leading hospitals in India.

Attune is a Laboratory Information Management System (LIMS) for diagnostic labs. A comprehensive platform, Attune, helps diagnostic labs automate lab processes thereby improving sample management, reducing Turnaround Times (TATs), and optimizing costs. Its unique middleware supports automatic updating of software changes made by suppliers of 3000 different types of diagnostic equipment. Attune has been implemented in over 450 leading diagnostic labs.

“The growing use of insurance policies for payment in hospitals has brought the importance of managing the insurance claims process efficiently to the fore. ABI’s ClaimBook helps hospitals digitize the claims management process and helps them recover their dues in a timely manner. Its LIMS product, Attune, helps diagnostic labs serve their customers better by improving turnaround times while optimizing their cost of operations. This investment will fuel ABI’s growth and enable it to rapidly penetrate both domestic and global markets,” said Anil Jagirdar, Director, InvAscent.

“Indian Health-Tech is always seen as a challenging space but we see this changing rapidly with increasing adoption of tech. We believe that the platforms we have created meet the needs of enterprises across the globe. The investment will be used to support growth by financing building of add-on microservices and in expanding our presence in other geographies,” said Ajit Veerappan, Managing Director, ABI.

Masterkey Holdings served as the exclusive financial advisor to ABI for this transaction.

About InvAscent

InvAscent is the investment advisor to a family of funds that operate under the name “India Life Sciences Fund” or ILSF. It has so far raised about USD 500 Mn from global investors across four funds and deployed the same in 30+ companies across Pharma, Healthcare Delivery, HealthTech, Medical Devices, and Animal Health industries. The investment team at InvAscent has deep domain expertise and a track record of value creation in the Life Sciences space.

For more information about InvAscent, please visit https://www.invascent.com/