Global private equity giants eye stake in Bharat Biotech.

Industry:    2016-02-08

Hyderabad based biotechnology firm Bharat Biotech which recently claimed that it was probably the first company in the world to file global patents for Zika vaccines, has attracted the attention of marquee private equity players. ET NOW learns that Carlyle and TPG are in the race to pick up a significant minority stake ?in the company which is working on the vaccines to combat the deadly Zika virus. The WHO has declared the outbreak of the mosquito borne Zika virus as a global health emergency. ” Around 30% stake collectively held by ICICI Ventures, Subhkam Ventures and World Bank backed IFC is on the block. ICICI Ventures and IFC have revived their exit plans which did not materialize earlier, ” said an individual familiar with ongoing negotiations. ” Carlyle and TPG are conducting due diligence on the deal which may potentially value Bharat Biotech between Rs 1200 – Rs 1500 crores but this may change depending on the commercial evaluation of the existing existing products & the product pipeline,” added a second source on the condition of anonymity. In response to email queries from ET NOW , TPG declined to comment on “market speculation & rumour” while Bharat Biotech, ICICI Ventures and the Carlyle Group also declined to comment. ET NOW is awaiting responses from IFC & Subhkam Ventures. Bharat Biotech was founded by scientist Krishna Ella and undertakes transnational research in the area of molecular biology, microbiology, virology, immunology, biochemistry, clinical research and industrial biotechnology. According to the company website, the company holds a portfolio of 50 patents and has delivered over 2 billion doses of vaccines in over 65 countries. Read more at: http://economictimes.indiatimes.com/articleshow/50853113.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

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