GMS Holdings invests $8.49 million in Strides Shasun’s biotech arm

GMS Holdings has made the first tranche of investment of $8.49 million in Strides Shasun’s biotech arm Stelis Biopharma. The Jordan-based investment firm has made the investment through its subsidiary GMS Pharma (Singapore).

In 2014, Strides had entered into an agreement with GMS Holdings to make investments worth $21.90 million for 25.1 per cent stake in Stelis Biopharma.

Strides Shasun (formerly known as Strides Arcolab) is a global pharmaceutical company headquartered in Bangalore, India that develops and manufactures wide range of IP-lead niche pharmaceutical products with an emphasis on sterile injectables.