Biotech company Enzene Biosciences (Enzene), a subsidiary of Alkem Laboratories, has raised $50 million from Alkem Laboratories, Eight Roads Ventures, and F-Prime Capital.
The company plans to use the raised capital to improve manufacturing capabilities and drive expansion in India and the US.
“We are thrilled to be partnering with Alkem Laboratories and Enzene to build a global biosimilars and biologics powerhouse out of India,” said Dr Prem Pavoor, Senior Partner, Head of India & Healthcare Investments, Eight Roads Ventures.
According to a statement, Enzene, based in Pune, has established fully integrated biotech process development and manufacturing capabilities across numerous modalities and platforms. It has developed a captive pipeline of biosimilars that have been distributed through out-licensing agreements to pharmaceutical firms operating on a global scale. Additionally, it offers biotechnology companies with full-range contract development and manufacturing services.
Enzene provides various biologics services, including the capability to develop clones and implement good manufacturing practices (GMP), all supported by bioreactors with capacities ranging from 20 to 2,000 litres. Biosimilars, new biologics, synthetic peptides, and phytopharmaceuticals are its main product categories.
Enzene Biosciences Ltd. CEO Dr Himanshu Gadgil hoped to continue on the company’s mission to deliver innovative and affordable biomanufacturing for novel biologics and biosimilars globally.