Ocimum Bio

completed

Ocimum Biosolutions Ltd. (Ocimum or the company) is a small sized, fast growing firm that provides contract research outsourcing (CRO) services to pharmaceutical and biotechnology companies & research organizations globally. Ocimum, with India as its base and subsidiaries in the US and Germany, recently acquired the Genomic Diagnosis Division of MWG Biotech AG, Germany (MWG) and integrated it into its Indian operations. Ocimum offers services to universities, research centers, various labs and pharmaceutical companies including basic human disease research, genetic analysis, pharmaceutical drug discovery and development, pharmacogenomics, toxicogenomics and clinical diagnostics. It plans to invest in research and development (R&D) infrastructure and for expansion into new business lines. The company had originally requested IFC to subscribe up to $5.0 million of equity to fund its growth plans. Since the release of the original SPI on April 27, 2006, IFC’s investment has been increased to an amount of up to $6.5 million to better serve the company’s business requirements. Out of this, up to $3.9 million will be in the form of equity and up to $2.6 million will be in the form of debt.