Private equity giant KKR is in “advanced” discussions to acquire a stake in New Delhi-based SRL Diagnostics, sources told Bloomberg. The deal could value SRL at about 50 billion rupees ($775 million).
SRL, which bills itself as the largest diagnostics company in India, is being spun off from Fortis Healthcare, one of India’s largest private hospital chains, Bloomberg reported last month. Fortis has been in talks with other private equity players, including TPG and Bain Capital, Bloomberg said.
While discussions between SRL and KKR are ongoing, it’s not a done deal, said people familiar with the matter, as quoted by Bloomberg.
SRL operates 356 laboratories, including large labs in Dubai, Sri Lanka and Nepal. It has more than 5,000 collection points, with 69 of them in countries outside India, according to the company.
It offers prognostic, diagnostic and monitoring services to other pathology labs, hospitals and patients, and also serves pharma companies and CROs carrying out clinical trials.
In January last year, KKR and Panasonic—of which KKR holds an 80% stake—closed their $1.1 billion acquisition Bayer’s diabetes unit and rebranded the company as Ascensia Diabetes. As for diagnostics, KKR invested $35 million in Signostics, which specializes in miniaturized, hand-held ultrasound devices for use at the point of care.
By Amirah Al Idrus
Source: Fierce Biotech
Novartis will acquire Mariana’s lead candidate MC-339, a radioligand therapy (RLT) designed to target small-cell lung cancer. Last year, Mariana had raised $175m in a Series B round from several funds and pharma giant Eli Lilly.
The company’s aspiration to expand the use of its obesity products to cardiovascular indications has been successful. In March, its blockbuster drug Wegovy was approved by the US Food and Drug Administration (FDA) for reducing the risk of cardiovascular diseases in obese or overweight adults.
Massachusetts-based Deciphera brings to the table an extensive kinase inhibitor pipeline, kinase drug discovery expertise, and a strong commercial and sales platform in the US and European markets that is meant to advance Ono’s capabilities and presence in the oncology space.