01st June, 2024: Tata Capital Healthcare Fund II (TCHF II), the healthcare focused private equity fund of Tata Capital Ltd., announced that it has invested an amount of $ c.20 million in Orbicular Pharmaceutical Technologies Private Limited for an undisclosed equity stake. Orbicular, a Hyderabad-based specialty pharmaceutical company, excelling in developing complex generics for global pharmaceutical markets will utilize the capital for accelerating the development of product pipeline.

The specialty generics industry (market size $ 60+ bn) is rapidly expanding, driven by increasing demand for cost-effective alternatives to complex and high-cost branded medications. Orbicular has developed a robust pipeline of niche products in the specialty generics space positioning them as an ideal partner for global generic players targeting regulated markets.

Speaking on the partnership, Visalakshi Chandramouli, Managing Partner, Tata Capital Healthcare Fund said, “We are thrilled to partner with Orbicular which is at the forefront of R&D leadership in the field of complex generics. Under the able leadership of Dr. M.S. Mohan, Orbicular has developed a strong product pipeline for the regulated markets. We are proud to support the dynamic team at Orbicular and be a part of their growth story. This investment reinforces our fund’s core philosophy of identifying the big shifts in the industry and being a “capital plus” partner to our companies.

Speaking on the capital raise, Dr. M.S. Mohan, Managing Director, Orbicular said, “Today is a transformative milestone in our journey of starting as a bootstrapped company to successfully being backed by Tata Capital Healthcare Fund. Having positioned Orbicular as a differentiated specialty pharmaceutical company in the complex generics space, the investment will further strengthen our global partnerships. I am immensely proud of our team, its achievements, and together, we will continue to drive differentiation, pursue advance healthcare solutions, and make a positive impact on the lives of millions across the globe.”

Emphasizing on the successful outcome, Dr. Hiren Patel, Chief Executive Officer, Orbicular said “This new partnership with Tata Capital Healthcare Fund is a testament of our capabilities and will enable us to accelerate our R&D efforts, expand our portfolio and strengthen our global partnerships.”

Ambit acted as the exclusive financial advisor to Orbicular and its shareholders on this transaction. Vikas Khattar – MD, Co- Head Investment Banking and Head – ECM at Ambit and Ritesh Desai, Executive Director – Pharma & Healthcare Investment Banking, have been key to this partnership.