From Press Release:
Themis Laboratories Private Limited (Themis Laboratories), India’s leading pharmaceutical company specializing in developing and manufacturing of pharmaceutical formulations using novel drug delivery systems (“NDDS”), today announced that the company has received an equity investment of INR 900 million from NYLIM Jacob Ballas India Fund III, LLC (“NYLIM Jacob Ballas India Fund”), a Mauritius based Private Equity investor.
Commenting on the deal, Mr. Janak Shah, Chairman, Themis Laboratories, said, “Themis Laboratories has emerged as one of India’s leading novel drug delivery companies with a robust pipeline backed by a strong research and development (“R&D”) setup. This investment by NYLIM Jacob Ballas India Fund would help strengthen the company’s foray into the regulated markets. We believe this partnership will help us realize our vision to be a significant player in the global NDDS space.”
He further added that the investment would be utilized to finance the setting up of a new R&D facility and to establish a marketing network in overseas export markets.
Bharat Bakhshi, Partner, Jacob Ballas Capital India Pvt Ltd (“JBC”), investment advisor to NYLIM Jacob Ballas India Fund, said “Themis Laboratories has developed long term relationships with leading pharmaceutical companies in India for developing and manufacturing NDDS formulations owing to its strong technical expertise and its commitment to high quality standards and regulatory compliance. Given the numerous benefits offered by NDDS formulations we are confident that Themis Laboratories will show continued success and we look forward to being a partner in this success.” Mr Bakhshi has joined the Board of Directors of Themis Laboratories.
JBC, based in New Delhi, is the investment advisor to three India focused private equity funds, New York Life International India Fund (Mauritius), LLC, New York Life Investment Management India Fund II LLC and NYLIM Jacob Ballas India Fund III, LLC.
About Themis Laboratories
Mumbai-based Themis Laboratories Private Limited is India’s leading pharmaceutical company specializing in developing and manufacturing of pharmaceutical formulations using NDDS. Themis Laboratories has expertise in developing sustained release formulations, controlled release formulations, combination products, taste masking formulations and oral fast dissolving dosage forms. Themis Laboratories supplies NDDS formulations and intermediates to leading domestic pharmaceutical companies and Indian arms of global pharmaceutical companies. It has recently set up a new manufacturing facility in Ambernath, which is designed to meet international regulatory standards. The company has a dedicated R&D centre in Thane which is approved by the Department of Science & Technology, Government of India. For more information please visit www.themislabs.com. Themis Laboratories was promoted by Mr. Janak Shah and Mrs. Maya Shah in 1985.
About NYLIM Jacob Ballas India Fund
NYLIM Jacob Ballas India Fund III, LLC is a Mauritius based fund with an investment objective of achieving long-term capital appreciation through equity or equity-related investments into companies based in or with significant operations in India. Previous investments by the Fund include Aster Teleservices Limited, Mahindra Holidays & Resorts India Limited and Saravana Global Energy Limited. Affiliate funds of NYLIM Jacob Ballas India Fund have previously invested in a diverse range of sectors including telecom, ports, power, engineering construction, shipbuilding, real estate, textiles, auto components, IT consulting and printing.
About Jacob Ballas Capital India Pvt Ltd
Jacob Ballas Capital India Pvt. Ltd (“JBC”), based in New Delhi, is the investment advisor to three India focused private equity funds, New York Life International India Fund (Mauritius), LLC, New York Life Investment Management India Fund II LLC and NYLIM Jacob Ballas India Fund III, LLC. JBC’s ten member investment team has over 140 years of collective operating and investing experience, with over 40 years focused on private equity investments in India.
JBC was founded by Mr Rajan Jetley, Chairman, who is a well known professional and entrepreneur. Mr Jetley, Chairman of JBC, has previously served as CEO of Air India and India Tourism Development Corporation, and as Director of International Airports Authority of India. JBC’s shareholders, apart from Mr Jetley, include NYLCAP Holdings (Mauritius) which is wholly owned by New York Life Investment Management Holdings LLC, a wholly owned subsidiary of New York Life Insurance Company, Excelfin, promoted by Mr B S Ong and Mr David Ban, reputed Asian entrepreneurs with extensive interests in property, retail and lifestyle businesses and Indtech Constructions Pvt Ltd, promoted by Mr Atul Punj, Chairman of Punj Lloyd Ltd, one of India’s leading engineering construction conglomerates. For more information please visit www.jbindia.co.in.