Consolidation in Oligo industry and Growth for India based companies and outsourcing value proposition in Genomics and microarray/oligo industry

Ocimum Biosolutions acquires European based Oligo manufacturing company – Isogen Life Science

November 17, 2006, IJsselstein/Hyderabad – Ocimum Biosolutions, a leading provider of laboratory information management systems (LIMS), bioinformatics solutions, Microarrays and contract research headquartered in Hyderabad, India, has acquired the BioMolecules synthesis business of Isogen Life Science based in The Netherlands.

Ms. Anuradha Acharya, CEO of Ocimum Biosolutions said “We are very pleased to have taken a significant step towards becoming a global oligo player with the Isogen acquisition. We will continue looking for targets in related areas to scale up our oligo production capability. This acquisition will also help us become a more integrated genomics services provider with three delivery points in Indianapolis, IJsselstein and Hyderabad.”

Mr. Hans Beijersbergen van Henegouwen, MD of Isogen Life Science said, “It is an excellent opportunity for the Biomolecules Division of Isogen Life Science to become a global player in this competitive business. The new business configuration will be much more flexible and will be able to play an important role in the vast growing demand for oligo nucleotides all over the world. Ocimum is the perfect partner for fulfilling a broad platform of needs in this market segment.”

Avendus Advisors was the sole financial advisor to Ocimum for the deal. Commenting on the transaction, Shiraz Bugwadia, A.V.P., Avendus Advisors “Ocimum is one of the few Indian players within the BioIT and microarrays space to have scaled up successfully over the last couple of years. Ocimum has also been successful at using the inorganic route to scale rapidly by acquiring niche good quality companies in Europe such as MWG Biotech’s division and now Isogen Life Science.”

About Isogen Life Science:

Isogen Life Science (www.isogen-lifescience.com) is a leading supplier of products for the life science sector. The company provides a wide range of instruments, reagents and consumables in the areas of cell biology, molecular biology and biochemistry.

Isogen Life Science is a merger between B&L Systems (1987), the Benelux distributor for scientific instrument companies, and Isogen Bioscience (1988), a leading producer of DNA, RNA, peptides and related products, which are used around the world by pharmaceutical and biotechnology companies and leading research institutes.

About Ocimum Biosolutions:

Ocimum Biosolutions is a life sciences R&D enabling company with three main focus areas, BioIT, Microarrays and Contract research services. The US operations of the Company focuses on custom contract research services in the molecular biology area while the Indian operations provide BioIT services and Microarrays. Ocimum has more than 300 prestigious clients worldwide including the Centres for Disease Control, University of Toronto HIV clinic, National Research Council of Canada, Dow AgroSciences, Max Planck Institute etc.

Ocimum has adopted an inorganic strategy to ramp up the business fast and has demonstrated its capability to execute this strategy in the past. As a part of its strategy, Ocimum acquired a division of MWG Biotech, Germany in 2005. The Company has received a host of awards and recognitions. The Company has recently received the IT Innovation award by NASSCOM, presented by H.E. the President of India. Also, Red Herring magazine picked Ocimum as one of the eight compani es to watch in India. Deloitte ranked the Company as 4th Fastest growing Technology company in India and the Fastest growing Life Sciences Company in India.

For more information, please visit: www.ocimumbio.com

Indian company gets 6.5 million USD IFC funding to promote contract research in bioinformatics and genetics industry

Hyderabad, November 15, 2006 – Ocimum Biosolutions today announced that International Finance Corporation (IFC), the private sector arm of the World Bank Group, will invest USD 6.5 million of equity, for a minority stake, and debt in the Company. Funds raised from this transaction will be used for financing both organic as well as inorganic growth of the Company.

Says Ms. Anuradha Acharya, Founder & CEO of Ocimum Biosolutions, “We are very happy to have IFC as our partner for growth. These are exciting times for Ocimum and to have IFC as an investor in the company brings a lot of confidence in our clients and partners.”

Iyad Malas, IFC’s Director for South Asia, said, “IFC’s support to Ocimum will provide the company its much needed growth capital to establish an internationally competitive contract research outsourcing company and promote the discovery of new drugs at lower costs. We will also help institute improved corporate governance standards.”

This is Ocimum’s first round of fund raising from private equity investors. The Company is contemplating another round of fund raising in the next 18-24 months.

Recently, Ocimum acquired a Europe based oligo manufacturer. The Company is also scouting for more targets in the European market.

Avendus Advisors was the sole financial advisor to Ocimum for the deal. Commenting on the transaction, Shiraz Bugwadia, A.V.P., Avendus Advisors “Ocimum is one of the few Indian players within the BioIT and micro arrays space to have scaled up successfully over the last couple of years. Ocimum has also been successful at using the inorganic route to scale rapidly by acquiring niche good quality companies in Europe such as MWG Biotech’s division and now a Netherlands based oligos manufacturer.”

About Ocimum Biosolutions:

Ocimum Biosolutions is a life sciences R&D enabling company with three main focus areas, BioIT, Microarrays and Contract research services. The US operations of the Company focuses on custom contract research services in the molecular biology area while the Indian operations provide BioIT services and leverage on India’s low cost advantage in IT space. The Company enjoys a strong brand image in the market and has worked with some of the best research organizations in the world like IIT Kharagpur, National Research Council of Canada, Agriculture and Agri Foods, NIH, Dow Agro Sciences, etc.

Ocimum has adopted an inorganic strategy to ramp up the business fast and has demonstrated its capability to execute this strategy in the past. As a part of its strategy, Ocimum acquired a division of MWG Biotech, Germany in 2005. The Company has received a host of awards and recognitions. The Company has recently received the IT Innovation award by NASSCOM, presented by H.E. the President of India. Also, Red Herring magazine picked Ocimum as one of the eight companies to watch in India and was a winner of Red Herring’s Asia 100. Deloitte ranked the Company as Fastest growing life sciences company in India.

For more information, please visit: www.ocimumbio.com.

About International Finance Corporation:

The International Finance Corporation, the private sector arm of the World Bank Group, is the largest multilateral provider of financing for private enterprise in developing countries. IFC finances private sector investments, mobilizes capital in international financial markets, facilitates trade, helps clients improve social and environmental sustainability, and provides technical assistance and advice to businesses and governments. From its founding in 1956 through FY06, IFC has committed more than $56 billion of its own funds for private sector investments in the developing world and mobilized an additional $25 billion in syndications for 3,531 companies in 140 developing countries. With the support of funding from donors, it has also provided more than $1 billion in technical assistance and advisory services.

For more information, please visit www.ifc.org.

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