Vertically integrated oncology-focused startup Beta Drugs has raised Rs 117 crore from HealthQuad Fund II for a minority stake in the company.
The round also witnessed participation from a Singapore-based investment fund and a private wealth management firm.
Beta Drugs offers a broad product portfolio across all major oncology segments, including chemotherapy, targeted, hormonal and supportive therapy.
“Beta Drugs, with its strong manufacturing and R&D capabilities, is poised to improve affordability in the middle- and lower-income segment, and accessibility in tier II and tier III cities in the country. We believe in the transformative potential of their new product launches, expanding export markets, and experienced management team, all of which position the company for substantial growth and value creation,” noted Ajay Mahipal, Partner at HealthQuad Capital, on the rationale for investment in the vertically integrated startup.
HealthQuad is a healthcare transformation fund which counts leading companies in AI, data analytics, diagnostics, healthcare financing, chronic care management and pharma distribution among its portfolio.
“Their investment and expertise will play a pivotal role in accelerating our growth journey, as we strive to position ourselves among the top five oncology companies in India over the next five years,” says Rahul Batra, Chairman & Managing Director of Beta Drugs on HealthQuad’s investment in the company.
Beta Drugs, which claims to be one of the few vertically integrated manufacturers in the country, was exclusively advised by o3 Capital during the transaction.
