J. Sagar Associates (JSA) advised Motilal Oswal Private Equity, in respect of its investment of up to Rs. 240 crores in Molbio Diagnostics Private Limited (“Molbio”).
Molbio, along with its subsidiary Bigtec labs, has developed and commercialised Truenat, a point-of-care (PoC) molecular diagnostics platform using polymerase chain reaction (PCR) technology. Truenat can diagnose 22 infectious diseases, such as tuberculosis (TB), H1N1, dengue, HIV and hepatitis, among others. It has a pipeline for an additional 43 diseases, including Coronavirus and Middle East Respiratory Syndrome (MERS). Molbio is working closely with Central and State governments to support the national mission of TB eradication by 2025 and efficient diagnosis of H1N1, dengue, hepatitis B&C and other infectious diseases.
MOPE cumulatively manages close to US$ 900 million and has raised four growth capital funds India Business Excellence Fund-I (IBEF-I), India Business Excellence Fund-II (IBEF-II) and India Business Excellence Fund-III (IBEF-III) and four real estate funds.
JSA team comprised Partners – Vikram Raghani and Manav Raheja along with Associate – Gaurav Matta.
Partner – Soumitra Majumdar and Associates – Rishabh Jain and Abhay Agarwal advised on the financing aspects of the transaction.