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, marking a major milestone in its growth trajectory. With this funding, PlasmaGen has now raised over ₹600 crore to date, cementing its position as a leading player in the industry.
The funding round was led by ViNS Bioproducts, a prominent player in the biotechnology sector, with participation from existing investors Eight Roads, FIL Capital, and F-Prime. The investment is a testament to the company’s strong fundamentals and its potential for future growth. PlasmaGen’s ability to attract such a significant amount of funding is a reflection of its innovative approach to biosciences and its commitment to delivering high-quality products.
PlasmaGen Biosciences operates one of India’s five plasma fractionation facilities near Bengaluru, which is a critical component of the country’s healthcare infrastructure. The company’s facility is equipped with state-of-the-art technology and staffed by a team of experienced professionals who are dedicated to producing life-saving therapies. The plasma fractionation process involves the separation of plasma into various components, which are then used to create a range of therapies, including immunoglobulins, albumin, and clotting factors.
The demand for these therapies is increasing rapidly, driven by the growing prevalence of diseases such as immunodeficiency disorders, hemophilia, and liver diseases. PlasmaGen is well-positioned to capitalize on this trend, with its cutting-edge facility and commitment to quality. The company’s products are used to treat a range of conditions, including bleeding disorders, immune system disorders, and liver diseases.
The funding will be used to expand PlasmaGen’s operations and increase its production capacity. The company plans to use the funds to upgrade its facility, invest in new technology, and hire additional staff. This will enable PlasmaGen to meet the growing demand for its products and expand its reach into new markets. The investment will also be used to support the company’s research and development activities, as it continues to innovate and develop new therapies.
The Indian biotechnology sector has been growing rapidly in recent years, driven by government initiatives, increasing demand for healthcare services, and a growing pool of skilled professionals. The sector has attracted significant investment from domestic and international investors, with many companies raising large amounts of capital to fund their growth plans. PlasmaGen’s funding round is a significant development in this context, as it highlights the potential of the sector and the opportunities available for companies that are innovative and committed to quality.
The company’s investors, including Eight Roads, FIL Capital, and F-Prime, have a strong track record of backing successful biotechnology companies. Their investment in PlasmaGen is a testament to the company’s potential and its growth prospects. The funding round is also a reflection of the growing interest in the Indian biotechnology sector, with many investors looking to capitalize on the sector’s growth potential.
In conclusion, PlasmaGen’s funding round is a significant development in the Indian biotechnology sector. The company’s ability to raise ₹150 crore in funding and achieve a valuation of over ₹1,500 crore is a testament to its strong fundamentals and growth prospects. With its cutting-edge facility, commitment to quality, and innovative approach to biosciences, PlasmaGen is well-positioned to capitalize on the growing demand for life-saving therapies. The funding will be used to expand the company’s operations, increase its production capacity, and support its research and development activities.
As the Indian biotechnology sector continues to grow and evolve, companies like PlasmaGen are likely to play an increasingly important role. With their innovative approach, commitment to quality, and focus on delivering high-quality products, these companies are poised to make a significant impact on the healthcare sector. The funding round is a significant milestone in PlasmaGen’s growth journey, and it will be interesting to see how the company uses the funds to drive its future growth.
News Source: https://ascendants.in/funding-feed/plasmagen-biosciences-raises-rs-150-cr/
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