India, Sept. 29 -- Natco Pharma Ltd has increased its proposed investment in US-based biotechnology firm eGenesis Inc to $16.7 million (around Rs 139 crore) from the earlier disclosed amount of $14 million.
Under the revised structure, NATCO Pharma (Canada) Inc will invest $13.7 million, while NATCO Pharma USA LLC will contribute $3 million, according to a regulatory filing.
The investment involves the purchase of convertible promissory notes carrying 8% annual compounded interest. No additional shares will be acquired at the time of completion, with the transaction expected to close by October 31.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....