Mukesh Ambani-controlled Reliance Life Sciences is to invest $63.2 million for a controlling stake in UK's biopharmaceutical company GeneMedix Plc.
The intial investment is to be made through a subscription for 1,168,254,570 shares at 1.25 pence to raise £14.6 million, representing a controlling interest of 74 per cent of the enlarged share capital of GeneMedix, the UK firm has stated.
According to a GeneMedix press release, the company may also make a further investment up to £17.5 million. The investment proposal is yet to be approved by GeneMedix shareholders.
GeneMedix feels that Reliance Life's involvement will enable it to introduce the latter's portfolio of 'biosimilars' to market in the EU. GeneMedix can also be a manufacturing and clinical research hub for such products for the EU market.
The company also feels that Reliance Life's commercial scale manufacturing facilities in India could compliment its facilities and would allow access to lower cost manufacturing services than those, which are currently outsourced by them.
Using animal testing centres and analytical testing facilities in India, which are also currently outsourced, have also been highlighted as a potential opportunity that arises from the alliance.
Reliance Life Sciences declined to make any comments on the GeneMedix announcement. Commenting on the transaction, Julian Attfield, chief executive of GeneMedix, said, "The investment will allow GeneMedix to continue to develop its existing portfolio of products at an accelerated pace and also bring new biopharma products under development."
With the expertise within the company and the enhanced infrastructure and support brought by Reliance Life, we are looking forward to an exciting period of integration and expansion over the coming year," he added.
© 2026