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GreenLight getting Investment from Serum Life Sciences

By Willie Wise on November 25, 2021

GreenLight Biosciences Inc., a biotech focused on RNA, and Environmental Impact Acquisition Corp. announced today that its PIPE financing had been expanded to a total of $124 million in gross proceeds. In addition, serum Life Sciences Ltd., a subsidiary of Serum Institute of India Pvt. Ltd., has made a strategic investment of $10 million in the increased funding. The Serum Institute, the world’s largest vaccine maker by volume, sells over 1.5 billion doses of vaccines to over 160 nations.

It includes national immunization programs and vaccines for polio, diphtheria, tetanus, pertussis, Hib, BCG, r-Hepatitis B, measles, mumps, and rubella. Serum Life Sciences’ chairperson, Natasha Poonawalla, stated, “Serum Life Sciences is happy to participate in the future of GreenLight Biosciences, intending to expedite the development and delivery of RNA vaccines.

Dr. Cyrus Poonawalla created Serum Institute in 1966, intending to produce life-saving immuno-biologicals that were in low supply in the country and had to be imported at exorbitant prices.That mission is still going strong today. GreenLight and Serum Life Sciences are both dedicated to making healthcare more inexpensive and accessible. GreenLight mission is to create high-quality, low-cost solutions that can be used in a wide range of settings, including low- and middle-income countries.

The investment is made on the same conditions as ENVI and GreenLight $105 million joint-stock PIPE investment, announced in August 2021 as part of their proposed business combination. Serum Life Sciences Ltd will purchase shares of the publicly traded firm at the same $10 per share price as existing PIPE investors when the business combination closes.

Published in Biotechnology and News

Willie Wise

Backed by a strong educational background with a degree in Biotechnology, Greenville Technical College, Willie D. Wise is an asset to The Healthcare News and is rightfully placed as the Chief Editor, owing to his vast experience in technical writing, marketing, and strategic planning. To hone his job skills in journalism, Wise has also completed a degree course in journalism from the University of South Carolina-Columbia. He is highly skilled with the art of news presentation and is adept in an editorial role with excellent time management and leadership qualities at his disposal. He ensures the best delivery from his team of writers and ensures excellent performance by his team. Besides his current job as the editor-in-chief at The Healthcare News, he is a regular writer for the biotechnology category. Given his intense interest in the field, his core career centers around writing which he does with complete dexterity. As a writer, he ensures appropriate title selection besides developing authentic, market-relevant content ideal for business discretion and also to suit promotional and marketing strategies of TheHealthcareNews. His writing style not only remains informative but also is high on lucidity to entice reader focus for longer. Crude facts and statistical details are also presented simplistically to connect with readers' grasping capabilities.

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