OneSource in talks to raise Rs 1,670 crore in pre-listing round
OneSource, a TPG Growth-backed specialty pharma contract development and manufacturing organisation (CDMO), are in discussions with a clutch of investors including White Oak Capital, Swiss fund HBM Healthcare Investments, Tybourne Capital and 360 ONE, to raise about $200 million (₹1,670 crore), said sources.
OneSource (formerly Stelis Biopharma), promoted by Strides Pharma and its promoter Arun Kumar, got demerged from Strides Pharma, and renamed as OneSource last year. The company will now seek final approval from the NCLT for the demerger, and listing approvals from BSE and NSE. The company expects listing in the next 12 months.
In September 2023, the board of directors of Steriscience Specialties, Strides and OneSource Specialty Pharma (formerly Stelis Biopharma) proposed to combine the CDMO business of Strides and Steriscience under OneSource.
Mails sent to Strides, Arun Kumar, White Oak, HBM Healthcare, Tybourne Capital and 360 ONE did not elicit any responses. A TPG Growth spokesperson declined to comment. OneSource is a biologics and CDMO, which has capacities for clinical and commercial manufacturing to various pharma companies.
Set up in 2007 as a subsidiary of Strides, the company covers the entire CDMO value chain from clinical development to technology transfer to commercial manufacture and regulatory assistance. OneSource has two manufacturing units-unit 1 is the R&D facility and the unit 2 is the manufacturing facility. The multi-modal unit (primarily intended for vaccine production) was sold to
