Stelis concludes fund raise of $195 million
Strides Pharma Science on Friday said its biotech arm Stelis Biopharma concluded its series B and Series C fund raise for a cumulative amount of $ 195 million (approx Rs 1,415 crore).
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New Delhi: Strides Pharma Science on Friday said its biotech arm Stelis Biopharma concluded its series B and Series C fund raise for a cumulative amount of $ 195 million (approx Rs 1,415 crore). Post money valuation for Stelis will be pegged at $ 350 million.
Stelis Biopharma has successfully concluded its series B and Series C fund raise for a cumulative amount of $ 195 million, Strides Pharma Science said.
Strides Pharma Science with the current capital raise, Stelis is now well positioned to pursue its growth initiatives and scale its business model to deliver promising returns in the coming years.
Strides said it will demerge and list its biopharma business under Stelis on a standalone basis enabling significant value unlocking for Strides shareholders. Strides said Stelis as part of its series B issue will raise $ 70 million from existing investors at the current pre-money valuation of $ 155 million through partly paid shares.
