360 ONE picks up stake in OneSource Specialty Pharma

22 Nov 2024 , 11:59 AM

360 ONE Asset Management announced on Thursday that it has invested in OneSource Speciality Pharma, a rapidly developing Contract Development and Manufacturing Organisation (CDMO), by acquiring a stake from an existing investor for an undisclosed sum.

360 ONE did not provide information on the size of the investment, the valuation, or the investor from whom it is acquiring the interest.

We are thrilled to support OneSource and its great team, which has created a diverse portfolio of skills, said Tarun Sharma, fund manager, Healthcare and Consumer at 360 ONE Asset. Sharma noted that the company’s leadership in large molecules, complicated injectables, and drug-device combos puts it in an ideal position for the next phase of expansion. Sharma stated that ONE Asset will help OneSource’s innovation and worldwide expansion.

OneSource reported last month that it had secured $95 Million (₹801 Crore) in a pre-listing round from domestic and global institutional investors as well as family offices. HBM Healthcare Investments and allied investors spearheaded the fundraising, with participation from WhiteOak Capital, Param Capital, Motilal Oswal, Enam Holdings, and SBI Life Insurance. OneSource was given a pre-money equity valuation of $1.65 Billion.

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