Enzene Biosciences has raised $50 million (approximately 408 crore) in fresh equity funding from Eight Road ventures and healthcare investor F-Prime Capital. . Alkem Laboratories has also invested in the fresh round.
Enzene Biosciences is a Biotech company, a subsidiary of Mumbai-based drug maker Alkem Laboratories. They have invested in technologies of the future that allow accelerated development of your products. Pune-based Enzene focuses on producing biosimilars, novel biologics, synthetic peptides and phytopharmaceuticals. Enzene intends to establish a production and research & development facility in the US.
In a press statement, Enzene said it would leverage the fresh funds to enhance its manufacturing capabilities and drive expansion in its core market of India and the US.
“We have been tracking the broader biologics segment in India for several years, seeking disruptive technologies, products and management teams. Companies like Enzene position India well at the forefront of global biotech innovation,” said Prem Pavoor, senior partner, head of India and healthcare investments, Eight Roads Ventures.
Eight Roads, is backed by US financial services Fidelity has supported companies including Whatfix, Icertis, and Pharmeasy, a company for an online pharmacy.
“Internationally, the US and Europe remain key markets for Enzene with the aim of expanding into new geographies in their mission to become the most sought after CDMO (contract development & manufacturing organization),” said Ketan Patel, partner at F-Prime Capital.
In India, F-Prime has invested in companies like medtech startup Core Diagnostics, therapeutics venture Immuneel and Pharmeasy.