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Kubera Cross-Border (KUBC)

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Monday 17 December, 2007

Kubera Cross-Border

Investment in Ocimum

Kubera Cross-Border Fund Limited
17 December 2007

17 December 2007

                        Kubera Cross-Border Fund Limited

   KUBC invests up to US $17 million in Ocimum Biosolutions, a leading global
                         genomics outsourcing business

The Kubera Cross-Border Fund Limited ('KUBC') (LSE: KUBC), an investment company
traded on the AIM market of the London Stock Exchange, is pleased to announce
that it has acquired a significant minority interest in Ocimum Biosolutions 
('Ocimum' or the 'Company') for an equity investment of up to US$17 million
(including the pro rata investment by affiliates of Kubera Partners, LLC, the
Investment Manager of KUBC).

Ocimum is a life sciences research and development-enabling company, delivering
end-to-end genomic products and services from three global locations:
Indianapolis (United States), Ijsselstien (Netherlands), and Hyderabad (India).
The Company's presence across the globe allows it to service customers locally
while leveraging its global capabilities.  Ocimum has won several awards and was
the Red Herring 100 Asia winner for 2006, an award conferred on the leading
technology companies by Red Herring Magazine.

The Company has three main focus areas: BioIT, BioMolecules, and BioResearch.
The BioIT division provides reliable and cost effective software solutions for
the biotech industry.  The division also offers high-end informatics services
including gene identification, algorithm development and database creation and
analysis.  The BioMolecules division produces oligonucleotides and microarrays,
which are used by biotechnology labs for genomics research and experimentation.
The BioResearch division provides molecular biology services including gene
expression profiling, SNP studies, QPCR, genotyping, DNA extraction, and gene

Ocimum has had an impressive track record of organic and inorganic growth.  This
financing will primarily be used by the Company to fund its acquisition of the
Genomics division of Gene Logic Inc (NASDAQ: GLGC), which will add significant
capabilities to Ocimum's suite of offerings.  The division's BioExpress and
ToxExpress database comprise of a bio-repository of over 80,000 samples and the
services business provides data generation and analysis services to large labs
around the world.  The division, with revenues of over $15 million, is being
acquired by Ocimum for a cash consideration of $10 million.  Ocimum has in the
past successfully integrated MWG Biotech's (Germany) microarray business and
Isogen's (Netherlands) oligonucleotide business.

Commenting on the new partnership, Anuradha Acharya, CEO of Ocimum, said, 'We
were looking for a partner that apart from providing growth capital and
acquisition financing has a similar footprint as ours and can understand our
business and our global customer service and delivery model.  Kubera's track
record and their ability to add value in a cross-border sense uniquely qualifies
them to help with businesses such as ours.'  She further added that 'The Gene
Logic acquisition will help us in achieving our vision of becoming the number
one genomics outsourcing company in the world.  We will leverage our global
positioning and Gene Logic's branding and scientific leadership in
toxicogenomics, pharmacogenomics, and clinical genomics to become a partner of
choice for our customers.'

Ramanan Raghavendran, Managing Partner at Kubera Partners said, 'We believe
genomics outsourcing is at the cusp of significant growth given the demands on
the drug discovery function for labs around the world.  Ocimum is well
positioned to capture this opportunity because of its leadership in genomics,
deep technology knowledge and experience, global delivery capability and above
all its world class scientific talent and management team.'

The initial $14 million KUBC investment takes the form of convertible preferred
shares in Ocimum Biosolutions, an India-domiciled company.  KUBC will receive
two board seats, standard governance rights, and standard economic rights
including a liquidity preference.  KUBC ownership of Ocimum will be
approximately 35% at closing.  There is a significant earn out for management
based on the performance of the combined company in the fiscal year ending March
2009.  Under certain circumstances, KUBC will have the right to invest an
additional $3 million.  KUBC anticipates deploying further capital in Ocimum
beyond these amounts to finance future acquisitions.

Kubera Partners, as the investment manager of KUBC, invests in cross-border
companies that are Western headquartered and seek to leverage India and Asia
based resources for availability of talent or access to new markets; and
companies headquartered in India and Asia that seek to expand in Western markets
through acquisition or sales force development.  Kubera Partners is
differentiated by the track record of its principals and their complementary

For more information contact:

Kubera Partners, LLC (Investment manager of Kubera Cross-Border Fund Limited)
Ramanan Raghavendran, Managing Partner
Tel       : +1 (212) 295 2400
Email    : [email protected]

Grant Thornton Corporate Finance (Nominated Adviser)
Philip Secrett, Partner
Tel no: +44 (0) 20 7383 5100

LCF Edmond de Rothschild Securities Limited (Broker)
Hiroshi Funaki
Tel no: +44 (0) 20 7845 5968

                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                                       

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