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, underscoring the growing importance of PlasmaGen in the global biopharmaceutical landscape. With this funding, PlasmaGen has now raised over ₹600 crore to date, cementing its position as a leading player in the plasma fractionation industry.
Backed by prominent investors such as Eight Roads, FIL Capital, and F-Prime, PlasmaGen has been at the forefront of developing innovative plasma-based therapies. The company operates one of India’s five plasma fractionation facilities near Bengaluru, which is equipped with state-of-the-art technology to manufacture high-quality plasma-derived products. These products are used to treat a range of life-threatening diseases, including hemophilia, immunodeficiency disorders, and critical care conditions.
The funding round led by ViNS Bioproducts is a testament to the confidence that investors have in PlasmaGen’s capabilities and growth potential. ViNS Bioproducts is a renowned biotechnology company with expertise in developing and manufacturing biopharmaceutical products. The partnership between PlasmaGen and ViNS Bioproducts is expected to accelerate the development of new plasma-based therapies and strengthen the company’s position in the global market.
PlasmaGen’s success can be attributed to its commitment to innovation, quality, and patient care. The company has established a robust plasma collection network, which enables it to source high-quality plasma from donors across the country. This plasma is then processed at its facility near Bengaluru, where it is converted into life-saving therapies. PlasmaGen’s products are not only used in India but are also exported to several countries worldwide, including the United States, Europe, and Asia.
The Indian biotechnology sector has witnessed significant growth in recent years, driven by government initiatives, increasing investments, and a growing demand for innovative therapies. The sector is expected to continue its upward trajectory, with the Indian biotech industry projected to reach $150 billion by 2025. PlasmaGen is well-positioned to capitalize on this growth, with its strong product portfolio, robust manufacturing capabilities, and commitment to innovation.
The funding raised by PlasmaGen will be utilized to expand its manufacturing capabilities, develop new products, and strengthen its research and development capabilities. The company is also expected to invest in its plasma collection network, which will enable it to source more plasma from donors and increase its production capacity.
In conclusion, PlasmaGen’s funding round is a significant milestone for the Indian biotechnology sector. The company’s valuation crossing ₹1,500 crore is a testament to its growth potential and the confidence that investors have in its capabilities. With its strong product portfolio, robust manufacturing capabilities, and commitment to innovation, PlasmaGen is poised to become a leading player in the global biopharmaceutical industry.
As the Indian biotech sector continues to grow, companies like PlasmaGen will play a critical role in developing innovative therapies and improving patient care. The government’s initiatives to promote the biotech sector, including the establishment of biotech parks and funding for research and development, will also contribute to the sector’s growth.
In the coming years, we can expect to see more innovative therapies being developed by Indian biotech companies, including PlasmaGen. The company’s success will not only benefit patients in India but also contribute to the country’s economic growth and development.
News Source: https://ascendants.in/funding-feed/plasmagen-biosciences-raises-rs-150-cr/
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