GVK BIO gets Rs 100 cr from Sequoia Capital

Hyderabad, Nov 26: GVK Biosciences Private Limited (GVK BIO), a leading pharma and biotech research and development outsourcing company, today announced Sequoia Capital, a leading global private investment firm, has invested Rs 100 crore in the company.

GVK BIO would use these funds to expand capacity in drug discovery space, build a state-of-the-art campus here on a 25-acre site, provide new service offerings in pre-clinical and clinical space and pursue growth opportunities through mergers and acquisitions, a press relase from the company said.

GVK BIO Chairman D S Brar said ''we are delighted to have Sequoia Capital as our partners. Sequoia has funded and helped build worldclass companies and will further assist GVK BIO's expansion plans.'' Sequoia Capital has nominated its Managing Director Sandeep Singhal to the Board of GVK BIO.

UNI