Online drugstore PharmEasy marshals US$350 million in pre-IPO investment round

INDIA- PharmEasy, an online drugstore chain, has reportedly raised nearly US$350 million in its most recent round of funding ahead of filing its draft red herring prospectus (DRHP) before an initial public offering (IPO). According to an Economic Times report based on the company’s regulatory documents, the round included both primary and secondary financing. PharmEasy’s parent company API Holdings raised approximately US$200 million (Rs 1,505 crore) from 15 high-profile investors, including Amansa Investments, Steadview, SARV Investments, and Neuberger Berman Emerging Markets Equity Funds. Siddharth Shah, Dhaval Shah, Dhramil Sheth, Harsh…

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AI giant Exscientia files IPO, raises over US$460 million for drug research and development

UNITED KINGDOM – Exscientia’s initial public offering and private placement has raised US$464 million to fund its artificial intelligence-based approach to drug discovery and development. The new cash infusion follows a US$525 million fourth-round raise in April and a US$100 million third-round raise just a month earlier. Exscientia intends to develop its own drugs alongside a growing number of drug candidates licensed to other drugmakers, including Bristol-Myers Squibb (which recently signed a US$1.2 billion alliance with the Oxford, UK-based company), Sanofi, Bayer, Dainippon Sumitomo Pharma (DSP), and Evotec. The company’s…

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