Oncology-focused Beta Drugs raises Rs 117 crore from Healthquad, others

Beta Drugs on Wednesday announced Healthquad Fund II, a Singapore-based investment fund and a private wealth management firm, has picked up a minority stake in the oncology-focused formulations company by investing Rs 117 crore.

The company will use the newly raised funds to accelerate its growth and aspires to be among the top five oncology companies in India over the next five years, its chairman and managing director Rahul Batra said.

In the statement, the company claimed that it is one of the fastest-growing oncology formulation companies in the country, with offerings like chemotherapy, targeted, hormonal and supportive therapy for cancer patients.  The company sells its products in 46 countries.

Ajay Mahipal, a partner a Healthquad, -- which backs businesses seeking to improve healthcare access, affordability, and quality of care -- said with its strong manufacturing and research and development capabilities, Beta is poised to improve affordability in the middle- and lower-income segment, and accessibility in tier II and tier III cities in the country.