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Article: Dr. Reddy's Announces the Formation of Perlecan Pharma; Perlecan Pharma Raises USD 52.5 Million as Initial Equity Capital; Perlecan Pharma: India's First Integrated Drug Development Company.
- Article from:
- Business Wire
- Article date:
- September 28, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HYDERABAD, India -- Dr. Reddy's Laboratories (NYSE:RDY):
--Perlecan Pharma gets equity capital commitment of U.S.$52.5 million for funding the clinical development of Perlecan Pharma assets; Perlecan Pharma to receive the first tranche of U.S.$26 million; Dr. Reddy's to ultimately hold majority stake in Perlecan Pharma subject to various conditions
--India's leading Private Equity Investors ICICI Venture and Citigroup Venture Capital International Mauritius Limited lead investment in Perlecan Pharma equity
--Dr. Reddy's to transfer all rights and title, including the development and commercialization rights of 4 NCE assets to Perlecan Pharma in ...