PlasmaGen raises ₹150 crore, valuation crosses ₹1,500 crore
In a significant development, Bengaluru-based PlasmaGen Biosciences has secured ₹150 crore in a funding round led by ViNS Bioproducts, propelling the company’s valuation to over ₹1,500 crore. This investment is a testament to the growing importance of plasma-based therapies and the potential of Indian companies to make a mark in this sector.
PlasmaGen Biosciences, backed by esteemed investors such as Eight Roads, FIL Capital, and F-Prime, has now raised over ₹600 crore to date. The company operates one of India’s five plasma fractionation facilities near Bengaluru, which is a critical infrastructure for the production of life-saving therapies. Plasma fractionation is the process of separating plasma into its various components, such as albumin, immunoglobulins, and clotting factors, which are then used to create therapies for a range of diseases.
The latest funding round is a significant milestone for PlasmaGen Biosciences, as it demonstrates the confidence of investors in the company’s capabilities and growth potential. ViNS Bioproducts, the lead investor in this round, is a well-established player in the biotechnology sector, and its participation is expected to bring valuable expertise and resources to PlasmaGen.
The Indian plasma fractionation industry has been gaining traction in recent years, driven by the growing demand for plasma-based therapies and the government’s initiatives to promote the sector. The Indian government has recognized the importance of plasma fractionation and has taken steps to encourage the development of this industry. The National Biotechnology Regulatory Authority (NBRA) has established guidelines for plasma fractionation, and the government has also provided incentives for companies involved in this sector.
PlasmaGen Biosciences is well-positioned to capitalize on this trend, given its state-of-the-art plasma fractionation facility and its experienced management team. The company has a strong focus on quality and compliance, which is essential for the production of plasma-based therapies. PlasmaGen’s products are used to treat a range of diseases, including hemophilia, immunodeficiency disorders, and liver diseases.
The company’s valuation crossing ₹1,500 crore is a significant achievement, as it demonstrates the potential of Indian companies to create value in the biotechnology sector. PlasmaGen Biosciences is one of the few Indian companies that have achieved a valuation of over ₹1,000 crore in the biotechnology sector, and this milestone is expected to inspire other entrepreneurs and investors to explore opportunities in this space.
The funding raised by PlasmaGen Biosciences will be used to expand its operations and enhance its capabilities. The company plans to increase its plasma collection network, which will enable it to access a larger pool of plasma donors and increase its production capacity. PlasmaGen also intends to invest in research and development, which will help it to develop new products and improve its existing ones.
In conclusion, the funding raised by PlasmaGen Biosciences is a significant development for the Indian biotechnology sector. The company’s valuation crossing ₹1,500 crore demonstrates the potential of Indian companies to create value in this space, and the funding raised will enable PlasmaGen to expand its operations and enhance its capabilities. As the demand for plasma-based therapies continues to grow, PlasmaGen Biosciences is well-positioned to capitalize on this trend and make a meaningful contribution to the Indian healthcare sector.
News Source: https://ascendants.in/funding-feed/plasmagen-biosciences-raises-rs-150-cr/
About the Author
