Sequoia Capital invests Rs 100 crore in GVK BIO

Mumbai, Nov 26 (UNI) GVK Biosciences, a leading Pharma and Biotech research and development outsourcing company, today announced that Sequoia Capital, a leading global private investment firm, has invested Rs 100 crore in GVK BIO.

In a statement here, GVK BIO Chairman D S Brar said, ''We are delighted to have Sequoia Capital as our partners. Sequoia has funded and helped in building world-class companies and will further assist in GVK BIO's expansion plans.'' GVK BIO intends to use these funds to expand capacity in drug discovery services, build a state-of-the-art campus at Hyderabad on a 25 acre site, provide new service offerings in pre-clinical and clinical space, and pursue growth opportunities through mergers and acquisitions.

GVK BIO started operations in 2001 at Hyderabad and in a short span of six years, the Company has established itself as a leading contract research organization in India.

UNI