Beta Drugs raises Rs 117 crore from HealthQuad

Beta Drugs, vertically integrated oncology focused formulations company, on Wednesday said it has raised primary capital worth Rs 117 crore from HealthQuad Fund II (HealthQuad), and other investors including a Singapore-based investment fund and a private wealth management firm for a minority stake in the company.

Beta said the investment will help the drugmaker in expanding its global reach and operational capabilities.

Beta Drugs has established a robust position within the country and has also expanded its footprint to over 46 countries, holding accreditations from regulatory bodies such as Brazil and EU. It has product portfolio across all major oncology segments, including chemotherapy, targeted, hormonal and

supportive therapy.

Notably, Beta Drugs was also the first company in India to introduce oncology drugs in suspension form.

HealthQuad is backed by global LPs including DFIs, pension funds, global asset managers, global pharmaceutical companies, corporates and leading family offices. Their portfolio includes leading companies in AI, data analytics, diagnostics, healthcare financing, chronic care management and pharma distribution.

“Their (HealthQuad) investment and expertise will play a pivotal role in accelerating our growth journey, as we strive to position ourselves among the top five oncology companies in India over the next five years," said Rahul Batra, chairman & MD of Beta Drugs.

"Beta Drugs, with its strong manufacturing and R&D capabilities, is poised to improve affordability in the middle- and lower-income segment, and accessibility in tier II and tier III cities in the country," said
Ajay Mahipal, partner at HealthQuad.

"We believe in the transformative potential of their new product launches, expanding export markets, and experienced management team, all of which position the company for substantial growth and value creation,” he added.

O3 Capital acted as exclusive advisor to Beta Drugs for the purpose of this transaction.DSK Legal, Universal Legal and Desai & Diwanji were the legal advisors to this transaction.