As part of this round, the existing founders of LifeCell shall also participate by investing Rs 30 cr.
Mayur Abhaya, MD, LifeCell International, noted “Having transformed the approach in cord blood stem cell preservation through its innovative community banking model, LifeCell has over the last few years undertaken several growth initiatives in genetic and genomic testing for maternal and newborn health, and innovative placental tissue-based products for wound healing.” “With demonstrated market leadership across segments, LifeCell seeks to further leverage its technological expertise, strong brand position, and wide network, to foray into adjacent new categories like Fertility Heath and Cell-based therapeutics. These funds will help accelerate this agenda and further strengthen our market position,” he added.
Dr Sunny Sharma, Senior MD, OrbiMed Asia, will join the Board of LifeCell upon the closure of this transaction. Dr Sharma said, “LifeCell has built a trusted healthcare brand in maternal and newborn health through innovation and service.” Ernst & Young LLP acted as the investment banking advisor to LifeCell and LKS acted as the legal advisor.