Laurus Bio :
Laurus Labs Acquires Richcore Lifesciences

@unseenvalue @drprashantmish6 @punitbansal14

(thread)

Laurus Labs has acquired 72.55% in Richcore at the valuation of Rs.340 crores

- Laurus will be acquiring the stakes from existing shareholders: Eight Roads Ventures and VenturEast

- Thus, entering into the High Growth biologics and biotechnology segments (4th revenue stream)

- Richcore Lifesciences is a Fast Growing Research Driven Bio Manufacturing Company.

- Richcore has large scale fermentation capabilities and manufactures animal origin free (AOF) recombinant products.

Biotechnology is a research and asset heavy industry where companies take anywhere between 3 - 7 years to design and successfully commercialize their products, due to the R&D risks, Laurus labs has taken a smarter approach.

Richcore's current product portfolio

- The company Claims that the new facility will include 180,000-litre fermentation capability to produce multiple recombinant biotech products to meet the needs of biopharma, cell culture, & food industries.

- This will increase its manufacturing capability to 20X by March 2021

- Recombinant proteins are expressed by modifying or enhancing the DNA of a host cell with a DNA code of another organism (human/animal/plant) to produce a protein of interest.

- There has been a distinct upsurge in demand for biologics and vaccine manufacturing as well as a move away from animal-derived biologic products over the past few years, and now accelerated by the Covid-19 pandemic.

For full press release click here

https://www.bseindia.com/xml-data/corpfiling/AttachLive/16bf35fb-a7d0-44f9-a0e1-ee385bc97cd4.pdf

For Laurus Lab investor presentation click here

https://www.bseindia.com/xml-data/corpfiling/AttachLive/d5b9f2a6-7188-4ffc-879c-9ac5f78711e0.pdf