PlasmaGen raises ₹150 crore, valuation crosses ₹1,500 crore
In a significant development in the Indian biotechnology sector, Bengaluru-based PlasmaGen Biosciences has raised ₹150 crore in a funding round led by ViNS Bioproducts. This investment has propelled the company’s valuation to over ₹1,500 crore, solidifying its position as a leading player in the industry. With the backing of prominent investors such as Eight Roads, FIL Capital, and F-Prime, PlasmaGen has now raised over ₹600 crore to date, underscoring the confidence of investors in its vision and capabilities.
PlasmaGen Biosciences operates one of India’s five plasma fractionation facilities near Bengaluru, which is a critical component in the production of life-saving therapies. Plasma fractionation is the process by which plasma, a component of blood, is separated into its various proteins, which are then used to create a range of therapeutic products. These products are essential for treating various diseases and conditions, including hemophilia, immunodeficiency disorders, and certain types of infections.
The company’s state-of-the-art facility is designed to meet international standards of quality and safety, ensuring that the products manufactured there are of the highest quality. With a strong focus on research and development, PlasmaGen is committed to developing innovative products that address the unmet medical needs of patients in India and around the world.
The funding round led by ViNS Bioproducts is a testament to the company’s growth potential and the increasing demand for plasma-derived therapies. The investment will be used to expand PlasmaGen’s manufacturing capabilities, enhance its research and development efforts, and strengthen its marketing and distribution networks. This will enable the company to increase its market share and penetrate new markets, both domestically and internationally.
The Indian biotechnology sector has been witnessing significant growth in recent years, driven by government initiatives, increasing investments, and a growing demand for innovative healthcare solutions. The sector has attracted significant attention from investors, with several companies raising substantial funds to support their growth plans. PlasmaGen’s funding round is a notable example of this trend, highlighting the potential of the sector to attract large investments and create value for stakeholders.
PlasmaGen’s success is also a reflection of the country’s growing capabilities in the biotechnology sector. India has made significant strides in recent years, with several companies emerging as leaders in the global market. The country’s large pool of skilled scientists and researchers, combined with its favorable business environment, has made it an attractive destination for biotechnology companies.
The company’s backers, including Eight Roads, FIL Capital, and F-Prime, have a strong track record of investing in successful biotechnology companies. Their support has been instrumental in PlasmaGen’s growth, and their continued involvement is a testament to their confidence in the company’s potential.
In conclusion, PlasmaGen’s funding round is a significant development in the Indian biotechnology sector, highlighting the company’s growth potential and the increasing demand for plasma-derived therapies. With its strong focus on research and development, state-of-the-art manufacturing facilities, and commitment to quality and safety, PlasmaGen is well-positioned to capitalize on the growing demand for innovative healthcare solutions. As the company continues to expand its operations and penetrate new markets, it is likely to play an increasingly important role in the global biotechnology industry.
News Source: https://ascendants.in/funding-feed/plasmagen-biosciences-raises-rs-150-cr/
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