Fidelity Growth Partners India has invested in Bangalore-based XCyton Diagnostics Limited, a company that develops and provides high performance diagnostic services for critical care infections.

The funds invested will be used to build a nationwide presence for the company.

Birthstone Capital was the sole advisor to XCyton for the transaction.

Founded in 1993 by B.V. Ravi Kumar, XCyton offers diagnostic services for sepsis (blood stream infections), central nervous system infections like meningitis and acute encephalitic syndrome, and trauma or surgery-induced eye infections.

The company has earlier raised funds from Amvar Ventures Private Limited, the sister concern of Nadathur holdings, Birthstone Capital Advisors Ltd and Kiran Mazumdar Shaw.

Xcyton has developed a ELISA kit for detection of HIV infection called as HIV CheX and ELISA diagnostic kits for Hepatitis C, Neurocyticercosis and Japanese encephalitis. The company has ventured into molecular diagnostic products and has developed a DNA macro chip for simultaneous detection of the probable causative agents that cause a syndrome. This marks a paradigm shift from disease diagnosis to syndrome diagnosis.

Xcyton has a R&D and manufacturing facility at Bangalore. It has 12,500 sq ft of manufacturing facility for manufacture of ELISA kits.

Fidelity Growth Partners India, private equity arm of Fidelity is a sector-agnostic growth capital fund. Its investment portfolio includes Mind Shaper Technologies, Transpole Logistics, NetMagic Solutions among others.

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KVEZAR VIEW

  DEAL TRACKER FOR

Date	Transaction	Type	Buyer	Size ($mn)
30/11/11	Xcyton Diagnostics - Fidelity Growth	Private Equity	Fidelity Growth Partners India	-

 

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  Profiles

Fund
Name	Corpus	Target Sector	Website	KeyContact
Fidelity Growth Partners India		IT/ITES/Technology Healthcare Consumer Goods	www.fidelityindiacapital.com	Rahul ShahManish TanejaSubramanian Balakrishnan

Company
Name	Promoters	Office	Competitor	Website
Xcyton Diagnostics Private Limited	Dr. B.V. Ravikumar Dr. Latha P Lakshman	No.449, 10th Cross, 4th Phase, Peenya Industrial Area		www.xcyton.com

  Advisor

Birthstone Capital Advisors Private Limited