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DMD Advocates has advised HBM Healthcare Investments and other associated investors in leading OneSource Specialty Pharma’s $100 million fundraising through a pre-listing round, with DSK Legal representing OneSource on the deal. 

OneSource Specialty Pharma (formerly known as Stelis Biopharma), a contract development and manufacturing organisation (CDMO) platform, is an associate of Strides Pharma and its shares are to be listed shortly. 

The capital raised will support OneSource's growth, advance its research and development efforts, and expand its product offerings, which will strengthen the company's market position ahead of its initial public offering (IPO), according to a company statement.

The healthcare sector remains busy with dealmaking and private equity in the country, with $3.8 billion in deal value recorded in 2024. This figure includes Mankind Pharma's $1.6 billion acquisition of Bharat Serums and Vaccines.

The DMD team involved in the deal was led by partners Ayesha Rai and Vihang Virkar, with contributions from principal associate Pooja Shah and associate Vanshikha Choraria.

 

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