PlasmaGen raises ₹150 crore, valuation crosses ₹1,500 crore
In a significant development for 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 this funding, PlasmaGen has now raised over ₹600 crore to date, demonstrating the confidence of investors in its mission and capabilities.
PlasmaGen Biosciences is a pioneering company in the field of plasma fractionation, a process that involves separating the various components of blood plasma to produce life-saving therapies. The company operates one of India’s five plasma fractionation facilities near Bengaluru, which is equipped with state-of-the-art technology to produce high-quality plasma-derived products. These products are used to treat a range of diseases, including bleeding disorders, immune system disorders, and infectious diseases.
The funding round was led by ViNS Bioproducts, a company that has a strong track record of investing in innovative biotechnology companies. PlasmaGen is also backed by other prominent investors, including Eight Roads, FIL Capital, and F-Prime. These investors have recognized the potential of PlasmaGen to become a major player in the global plasma fractionation industry, which is expected to grow significantly in the coming years.
The investment of ₹150 crore will be used by PlasmaGen to expand its operations and increase its production capacity. The company plans to use the funds to upgrade its facility, invest in new technology, and hire more staff to support its growth plans. With this expansion, PlasmaGen aims to increase its market share in India and export its products to other countries, where there is a high demand for plasma-derived therapies.
The plasma fractionation industry is a highly regulated and complex sector, requiring significant investment in technology, infrastructure, and talent. PlasmaGen has demonstrated its expertise and commitment to quality, having established a world-class facility that meets international standards. The company’s products are used by hospitals and healthcare providers across India, and its reputation for quality and reliability has earned it a loyal customer base.
The funding of PlasmaGen is also a testament to the growing interest of investors in the Indian biotechnology sector. India has a large and growing population, with a increasing demand for healthcare services and products. The biotechnology sector has the potential to play a significant role in addressing this demand, and companies like PlasmaGen are at the forefront of this effort.
In recent years, there has been a surge in investments in the Indian biotechnology sector, with several companies raising significant funding from investors. This trend is expected to continue, as investors recognize the potential of Indian biotechnology companies to become major players in the global industry.
PlasmaGen’s achievement is also a reflection of the supportive ecosystem for biotechnology companies in India. The government has implemented policies and initiatives to promote the growth of the biotechnology sector, including tax incentives, funding for research and development, and infrastructure support. These initiatives have helped to create a favorable environment for biotechnology companies to thrive, and PlasmaGen’s success is a demonstration of the impact of these efforts.
In conclusion, the funding of ₹150 crore by PlasmaGen Biosciences is a significant milestone for the company and the Indian biotechnology sector. With a valuation of over ₹1,500 crore, PlasmaGen has established itself as a leading player in the plasma fractionation industry, with a strong track record of innovation and quality. The company’s plans to expand its operations and increase its production capacity will help to meet the growing demand for plasma-derived therapies in India and globally. As the Indian biotechnology sector continues to grow and evolve, companies like PlasmaGen are expected to play a major role in shaping its future.
News Source: https://ascendants.in/funding-feed/plasmagen-biosciences-raises-rs-150-cr/
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