Stem cell bank LifeCell secures Rs 255 cr from its founders and Orbimed

LifeCell International, India's leading stem cell bank and reproductive genetic testing services provider, announced on Tuesday a successful fundraise of Rs 225 crore from OrbiMed Asia Partners IV, a leading healthcare investment firm. As part of this round, the existing founders of LifeCell will also participate by investing Rs 30 crore.

“Having transformed the approach in cord blood stem cell preservation through its innovative community banking model, LifeCell has over the last few years undertaken several growth initiatives in genetic and genomic testing for maternal and newborn health, and innovative placental tissue-based products for wound healing,” said Mayur Abhaya, Managing Director, LifeCell International.

LifeCell is looking to further leverage its technological expertise to enter new categories like fertility health and cell-based therapeutics. “These funds will help accelerate this agenda and further strengthen our market position," Abhaya said. Sunny Sharma, Senior Managing Director, OrbiMed Asia, will join the Board of LifeCell upon the closure of this transaction.

“LifeCell has built a trusted healthcare brand in maternal and newborn health through innovation and service. We are very excited to partner with Mayur and his team in the next stage of LifeCell’s growth,” Sharma said. Ernst & Young LLP acted as the investment banking advisor to LifeCell and LKS acted as the legal advisor.