Eywa Pharma Pte, a Singapore-based generic pharmaceutical company on Tuesday announced that Eight Roads Ventures India (the proprietary investment arm of Fidelity International Limited), US-based F-Prime Capital Partners and Envestor Ventures Limited (part of the Shriram Group), together with its affiliates have agreed to invest $30 million in the company.
Eywa was incorporated in 2015 with a vision to provide reliable and affordable generic pharmaceuticals for patients globally. The company has established subsidiaries in India, the US and the UK, and is currently building a portfolio of niche generic products for the US, UK and European markets. It has also established a state-of-the-art R&D centre in Chennai for development of finished dosage forms.
The company was founded by S Srinivasan and R Jayakumar, both senior pharmaceutical executives with over two decades of international experience. Srinivasan was formerly the India CEO for the global pharmaceuticals major Mylan and held various senior roles with Mylan including being the head of global emerging markets.
Before founding Eywa, Srinivasan was the MD of Shriram Venture Limited, the holding entity for the various industrial businesses of the Chennai-based Shriram Group. Jayakumar served with Mylan across various international roles, including as head of global business development and head of regional technical operations for EMEA.
As part of the investment, Dr Prem Pavoor, partner at Eight Roads Ventures and Dr Ketan Patel, Partner at F-Prime Capital Partners will join the board at Eywa. In addition, H R Srinivasan, vice chairman and MD, TAKE Solutions Limited and D V Ravi, MD, Shriram Capital Limited, will also join the board of the company, representing Envestor Ventures Limited.