GVK BIO raises Rs.100 crores from Sequoia Capital
To fund expansions and offer integrated services
Hyderabad November 26, 2007: GVK Biosciences Private Limited (GVK BIO), a leading Pharma & Biotech research and development outsourcing company, today announced that Sequoia Capital a leading global private investment firm has invested Rs.100 crores in GVK BIO.
GVK BIO started operations in 2001 at Hyderabad and within a short span of 6 years; the company has established itself as a leading Contract Research Organization in India.
GVK BIO has been very successful in expanding its services across the Pharma value chain. Currently GVK BIO is the only Indian CRO that provides an integrated service platform ranging from Informatics, MedChem and Biology services in Discovery research to Clinical Research and Data Management services on the Development side and further to Process Research and Custom Synthesis. This service breadth gives GVK BIO an edge, as clients look to grow
their relationships with Indian CROs from a vendor-based relationship to strategic partnerships.
Mr. D.S. Brar, Chairman, GVK BIO said “We are delighted to have Sequoia Capital as our partners. Sequoia has funded and helped build world-class companies and will further assist in GVK BIO’s expansion plans”. Dimensions Consulting of Gurgaon were the advisors to GVK BIO for the transaction.
GVK BIO intends to use these funds to:
• Expand capacity in Drug Discovery services
• Build a state-of-the-art Campus at Hyderabad on a 25 acre site
• Provide new service offerings in Pre-clinical and Clinical space
• Pursue growth opportunities through mergers and acquisitions
Sequoia Capital has nominated Mr. Sandeep Singhal to the Board of GVK BIO.
Mr. Sandeep Singhal, Managing Director, Sequoia Capital said ”We are very excited to be shareholders in GVK BIO. The rapid growth of the company in the last few years has made it a global leader in the CRO market. With the strength of its management and leadership, we believe that the company is on its way to become a dominant force in the life science industry.”
ABOUT GVK BIO
GVK Biosciences (www.gvkbio.com), India’s premier Contract Research Organization, delivers integrated research services to big Pharma and Biotech companies globally. The company accelerates the Drug Discovery and Development process of its customers through science and innovation. Currently the company has more than 1,300 employees spread across facilities in Hyderabad, Chennai and Gurgaon.About Sequoia Capital
Sequoia Capital provides venture capital funding to founders of startups who want to turn business ideas into companies. As the "Entrepreneurs Behind the Entrepreneurs", Sequoia Capital's Partners have worked with innovators such as Steve Jobs of Apple Computer, Larry Ellison of Oracle, Bob Swanson of Linear Technology, Sandy Lerner and Len Bozack of Cisco Systems, Dan Warmenhoven of Network Appliance, Jerry Yang and David Filo of Yahoo!, Jen-Hsun Huang of nVIDIA, Michael Marks of Flextronics, Larry Page and Sergey Brin of Google, Chad Hurley and Steve Chen of YouTube and Dominic Orr and Keerti Melkote of Aruba Wireless Networks. To learn more about Sequoia Capital visit www.sequoiacap.com.
Contact:
Sharada Alvakonda
Dy. General Manager – Corporate Communications
GVK Biosciences Private Limited
Hyderabad
T +91 40 66929998/9
E sharada@gvkbio.com
W www.gvkbio.com
Sandeep Singhal
SEQUOIA CAPITAL
sandeep.singhal@sequoiacap.com
