Healthcare services and pharma focused private equity (PE) fund, India Life Sciences Fund III, made two investments worth Rs 140 crore in the lockdown period. The PE firm invested Rs 70 crore each in ophthalmology hospital chain Sharp Sight and Pune-based Murli Krishna Pharma Pvt. Ltd, a formulations maker that focuses on developing novel drug delivery system (NDDS) products.

‘Through its strong technical and research and development capabilities, Murli Krishna Pharma has established itself as a player of repute in manufacturing of complex pharmaceutical formulations. We are excited about Murli Krishna’s capabilities in new drug delivery systems,’ said Nithya Govind, vice-president, InvAscent, the investment advisor to India Life Sciences Fund III. Commercialization of a few of the nano products in their pipeline can transform Murli Krishna into a significant player in the space, she added.

The investment in Sharp Sight is a bet on the huge unmet need for modern eye care services in eastern Uttar Pradesh, Bihar, the national capital region, and Jammu and Kashmir, Govind said.

‘Over the past couple of decades, we have been successful in launching several complex products. We also have several exciting oral and injectable NDDS products ready to be commercialized,’ said Satya Vadlamani, chairperson and managing director, Murli Krishna Pharma.

Read EquityPandit’s Nifty Outlook for the Week