PlasmaGen Biosciences has secured Rs 225 crore to back its growth formulation and accomplish its targets for international expansion, product development, and working capital requirements. The plasma derived protein and speciality products firm founded in 2010 by Vinod Nahar, has so far raised Rs 400 crore across multiple rounds.
“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,” said Vinod Nahar, Founder and Managing Director of PlasmaGen in a statement issued by the company.
Nahar added, “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.” PlasmaGen makes life-saving drugs such as albumin, intravenous immunoglobulin, rabies immunoglobulin, hepatitis B immunoglobulin and RhD immunoglobulin under its brand name currently works with a network of 5000 physicians and hospitals across India.
Earlier this year, the company set up its new manufacturing facility for blood-plasma-derived protein therapeutics in Kolar, Bengaluru. The facility can process up to 5 lakh liters of plasma annually and has additional capacity to manufacture new products.
PlasmaGen sets up new manufacturing facility for Blood-Plasma Derived Protein
Earlier this year, the company set up its new manufacturing facility for blood-plasma-derived protein therapeutics in Kolar, Bengaluru. The facility can process up to 5 lakh liters of plasma annually and has additional capacity to manufacture new products.
The PlasmaGen BioSciences funding was raised from UK-based Artian Investments, public markets investor Ashish Kacholia, pharma industry entrepreneurs Anurag Bagaria, Dushyant Patel, and other HNI investors.
The round also saw participation from returning investors Eight Roads Ventures and F-Prime Capital.
PlasmaGen is engaged in the business of blood plasma-derived pharmaceutical products for Indian and emerging markets. Earlier, the firm raised $6.9 million in a Series B round of funding in September 2022 at a valuation of $43.6 million from Eight Roads Ventures, according to data and market research platform, Tracxn.
