Nahar says latest funding strengthens position as market leader in India
Bengaluru-headquartered PlasmaGen Biosciences has raised Rs.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.
Speaking about the fundraise, Vinod Nahar, Founder & Managing Director, PlasmaGen Biosciences, said on 14 Dec, “This latest funding strengthens our position as market leader 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.”
Founded in 2010, the Bengaluru-based company has raised Rs.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.
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 500,000 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.
Plasmagen Biosciences is focusing on blood plasma-derived pharmaceutical products in India. Plasmagen has built out a national presence across 70+ cities, covering more than 5,000 physicians and hospitals, including most of the leading national hospital chains, through a robust end-to-end cold chain network. Fiinews.com
