Sun Pharma's Dilip Shanghvi Buys 11% In Israel's Bio-Light Israeli Life Sciences
Dilip Shanghvi, CEO of Sun Pharmaceuticals Industries Ltd is investing NIS 10.5 Mn (around Rs.13.6 Cr) in Israel-based Bio-Light Israeli Life Sciences Investments Limited, for 11% stake through his private company, 
MJ Pharmaceuticals Limited.
Bio Light Israeli will allot 30 Mn shares to MJ Pharmaceuticals.
Bio-Light focuses on investments in research-oriented biotech companies. It's portfolio companies include, Micromedic Technologies that has developed a range of cancer diagnostic tools and IOptima Ltd, an ophthalmology specialty company.
Transaction Reference: Business Standard
Tel Aviv Stock Exchange (TASE)-listed Bio-Light Life Sciences was founded in 2005. This year in April, Israel Makov the former CEO of Teva Pharmaceutical Industries Ltd took over Bio-Light in order to create a company that invests in clusters, i.e. non-competing, but collaborating, companies in complementary fields.
Bio-Light is developing two clusters: in oncology through its takeover Micromedic Technologies Ltd and the second in ophthalmology, based on Bio-Light subsidiary IOptima Ltd.
MJ Pharmceuticals is a manufacturer of pharmaceutical formulations and bulk drugs.
Sun Pharma already entered Israel last year by acquiring controlling stake in Taro Pharmaceutical Industries Ltd.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 02/08/11 | Bio-Light Life Sciences - MJ Pharmaceuticals | Private Equity | MJ Pharmaceuticals Limited | 3.07 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 11/05/12 | M&A | Warburg Pincus International | Future Capital Holdings Limited (Co.) | - | Planned |
| 08/05/12 | M&A | AEGON | Aegon Religare Life Insurance Company Limited | - | Rumor |
| 08/05/12 | M&A | HCL Group | DLF Pramerica Life Insurance Company Limited | - | Planned |
| 02/05/12 | Private Equity | International Finance Corporation | MAS Financial Services Limited | 12.00 | Planned |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| MJ Pharmaceuticals Limited | Jasubhai Mehta | F. P. 145 Ram Mandir Road, Vile Parle (East) | ||
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