Lakshmikumaran and Sridharan advised LifeCell International on INR 2,250 million Investment by OrbiMed Asia
Lakshmikumaran and Sridharan (L&S) advised LifeCell International on INR 2,250 million Investment by OrbiMed Asia. LifeCell International, one of India’s leading stem cell banks and reproductive diagnostic solutions provider raised INR 2,250 million from OrbiMed Asia Partners IV, a leading healthcare investment firm.
Mayur Abhaya, Managing Director, LifeCell International said “We are pleased to raise INR 2,250 million from OrbiMed Asia to support our growth initiatives through primary infusion into the company. The company is debt free and has positive operating cash flow which will also help in its own strength to support the growth,”
L&S Team was led by Badri Narayanan, Executive Partner, Gaurav Dayal, Partner, Sumedha Kalra, Associate & Anmol Jain, Associate
The transaction involved investment into the Company in the form of primary issuance of compulsorily convertible preference shares as part of this funding round undertaken by the Company. Orbimed Asia IV Mauritius Limited made a primary investment of INR 2,250 million. In addition, the Promoters have also committed to invest INR 300 million into the Company.
L&S was involved in the review and finalisation of the term sheet and transaction documents, shareholders agreement, share subscription agreement, employment agreement, articles of association and closing resolutions.
In addition, L&S was also involved in the structuring and drafting of the documentation for the reorganisation of the storage business.
Ernst & Young LLP acted as the investment banking to the company. IndusLaw advised the Investors.