360 ONE Asset acquires stake in newly formed OneSource Pharma
Backed by five highly automated manufacturing plants—four of which hold US-FDA approval—OneSource Pharma boasts a team of over 1,200 employees, including over 100 scientists and technical experts.
360 ONE Asset on Thursday said it acquired a stake in OneSource Specialty Pharma, a contract development and manufacturing organisation (CDMO) specialising in biologics, complex injectables, and drug-device combinations.
In a statement, the company said the deal involves buying out an existing investor’s stake.
OneSource is among a handful of Indian CDMOs equipped to develop and manufacture cutting-edge products like GLP-1 drugs, which use a compound similar to those present in the popular obesity and diabetes drug, Ozempic. It also produces novel biologics or medicines derived from living organisms.
Backed by five highly automated manufacturing plants—four of which hold US-FDA approval—the company boasts a team of over 1,200 employees, including more than 100 scientists and technical experts.
"OneSource has established itself as a trusted development and manufacturing partner for top pharmaceutical companies worldwide,” said Neeraj Sharma, CEO of OneSource Specialty Pharma. “Our expertise in niche and complex dosage forms, along with our track record of superior compliance, allows us to provide an integrated, one-stop solution to our global clients. We are glad to welcome 360 ONE Asset as an investor who aligns with our mission to scale further," he added.
OneSource was formed after the National Company Law Tribunal (NCLT) approved the merger of Strides Pharma Science, Steriscience Specialties Pvt Ltd, and the high-end biologics operations previously under Stelis Biopharma.
At the time, Strides Pharma Science said the collaboration was supported by a fresh equity infusion of Rs 801 crore (about $95 million) from a consortium of well-known investors. The investment valued the company at a pre-money equity valuation of $1.65 billion.
"We are delighted to back OneSource and its stellar team that has built a wide portfolio of capabilities. The company’s leadership in large molecules, complex injectables, and drug-device combinations positions it perfectly for the next phase of growth. We look forward to collaborating with OneSource as they continue their journey of innovation and global expansion," Tarun Sharma, Fund Manager (Healthcare and Consumer) at 360 ONE Asset, said.
Edited by Suman Singh