PlasmaGen Biosciences completes INR 225 crores equity financing to drive growth from its state-of-the-art manufacturing facility for plasma products
Participating investors include prominent HNI family offices, pharmaceutical entrepreneurs and existing shareholders Eight Roads Ventures and F-Prime Capital
BENGALURU, India, Dec. 14, 2023 /PRNewswire/ — PlasmaGen Biosciences (‘PlasmaGen’), a biopharmaceutical company focused on blood plasma-derived pharmaceutical products for India and emerging markets, announced that it has raised 225 crores from UK based Artian Investments, prominent public market investor Ashish Kacholia, pharmaceutical entrepreneurs Anurag Bagaria and Dushyant Patel and other noteable HNI investors. Along with the new investors, the fundraise witnessed continued participation from existing investors Eight Roads Ventures and F-Prime Capital.
Founded in 2010, the Bengaluru-based company has raised INR 400 crores in total so far and plans to use the fresh capital to expand its presence internationally, develop products and fund working capital requirements.
Speaking about the fundraise, Vinod Nahar, Founder & Managing Director, PlasmaGen Biosciences said, “This latest funding strengthens our position as market leaders in our mission to be a trusted and leading Indian biopharmaceutical company, dedicated towards improving the health and quality of life of patients. We’re grateful to all our investors for their partnership as we continue to improve the accessibility of blood-plasma derived products for patients in India and emerging countries.”
Earlier this year, the company inaugurated its new manufacturing facility for blood plasma-derived protein therapeutics in Kolar, Bengaluru – India’s first plasma manufacturing facility by a pure-play, end-to-end blood-plasma company and only the fifth plasma fractionation facility in India. Spread across 8 acres, this state-of-the-art facility consists of multiple connected, yet independently operable blocks that support various operations of the manufacturing process. The facility will serve to significantly improve the demand-supply gap for blood-plasma derived products, and at affordable prices.
The manufacturing facility has an initial capacity to process 5,00,000 litres of plasma annually. The facility will produce multiple plasma products like albumin, immunoglobulins and coagulation factors. Additional capacity has been incorporated into the design, allowing PlasmaGen to expand its product portfolio in the future.
About PlasmaGen Biosciences
Headquartered in Bengaluru, Plasmagen Biosciences is a biopharmaceutical company focusing on blood plasma-derived pharmaceutical products in India. The company sells life-saving drugs such as albumin, intravenous immunoglobulin, rabies immunoglobulin, hepatitis B immunoglobulin and RhD immunoglobulin (anti-D) under its own brand name to private hospitals and state governments in India and other emerging markets. In India, Plasmagen has built out a national presence across 70+ cities, covering more than 5000 physicians and hospitals, including most of the leading national hospital chains, through a robust end-to-end cold chain network.
For more information visit www.plasmagen.in/index.php/about_us
Contact
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+91 80 421 54536
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