Motilal Oswal Private Equity Advisors (MOPE), a subsidiary of Motilal Oswal Financial Services, has committed to invest Rs 40 crore (Rs 400 million) in Ahmedabad-based Arinna Lifesciences.
The investments would be made through either funds managed or advised by MOPE, the company said in a statement.
“Investments by funds managed or advised by MOPE will help us to expand operations and introduce more products,” said Vivek Seth, founder of Arinna.
This is the first fund-raising for Arinna Lifesciences, a pharma company focusing on the central nervous system therapeutic segment. Bon Proximo acted as advisor to the company.