BRIEF—Biocon Biologics receives $75 million investment

India’s Biocon Biologics has received a primary equity investment from Abu Dhabi-based ADQ, one of the region’s largest holding companies, worth $75 million.

The investment will provide a 1.8% minority stake in the biosimilar business, valuing Biocon Biologics at around $4.17 billion.

Biocon executive chairwoman Kiran Mazumdar-Shaw said: “This investment is an endorsement of the value that Biocon Biologics business has built as a fully integrated pure-play biosimilars company and will enable us to expand our capabilities further.”

Biocon Biologics raised over $255 million from global investors in 2020, including $75 million from True North Fund for a 2.44% stake and $30 million from Tata Capital Growth Fund for a 0.85% stake.