Investment to help build Concord Biotech into an integrated biopharma company focused on high growth niche therapies
Quadria Capital, through its Singapore-based SPV, Helix Investments, has concluded an investment deal in Concord Biotech (Concord). Concord is a manufacturer of fermentation based biopharma APIs, focused on niche segments such as immunosuppressant, oncology, anti-fungal and anti-bacterial. Other investors in Helix Investment are funds managed by Rising Tide and Neuberger Berman.
Concord is promoted by leading biotechnologist, Sudhir Vaid. Commenting on the partnership, Vaid said, “Concord has grown to its current profile on the back of its strong technology platform and competence in developing and delivering high value complex molecule to global players in the regulated markets. We believe that now is the time to take the business to the next level by extending therapy expertise and introducing new range of products. In this pursuit of ours, we are delighted to have a partner like Quadria, who we believe will help us in the next phase of our growth through, their domain expertise and global network.”
“We are impressed by Concord’s strong dominance in the fermentation based biopharma products. Their operating philosophy of delivering complex product categories such as immunosuppressant, oncology etc firmly positions them to achieve future growth. We are confident of the company’s ability to deliver the next phase of growth and will support them along the way through our network and eco-system,” said Dr Amit Varma, Managing Partner of Quadria Capital.
Concord is coming up with a new formulation facility in Ahmedabad (India) and expects to start operations by end of 2016. The facility has been designed to cater to solid and liquid orals both for regulated and semi-regulated markets.