Lakshmikumaran & Sridharan advised LifeCell International, a stem cell bank and reproductive genetic testing services provider, in its recent fundraise of ₹2.25 billion (USD 29.8 million) from life sciences investment firm OrbiMed Asia. IndusLaw represented OrbiMed Asia.
Announcing the deal on 22 September, LifeCell International said its existing founders would be investing ₹300 million as part of this round.
Lakshmikumaran & Sridharan’s team comprised executive partner Badri Narayanan, partner Gaurav Dayal and associates Anmol Jain and Sumedha Kalra.
Indus Law’s transaction team comprised partners Kartik Ganapathy and Jinni Sinha (who has since left the firm), principal associate Chitvan Bakshi and associate Ekta Yadav. Partner Revathy Muralidharan and associates Anushree Kacker, Nilima Rajdev and Nikunj Poddar assisted with diligence.
OrbiMed made the investment through OrbiMed Asia Partners IV, which invests primarily in China and India.