Enzene Biosciences Ltd, a biotech firm, has raised $50 million (about Rs 410 crore) in a new investment round that was led by its parent company Alkem Laboratories Ltd and included Eight Roads Ventures and F-Prime Capital.
Enzene, based in Pune, will use the additional funds to increase its manufacturing capacity and widen its market reach both domestically and internationally, as per reported by VCCircle.
“At Alkem Laboratories Ltd, we continue to be big believers in biologics and are committed to biotech innovations. To help support us on this journey, today we’re very pleased to welcome Eight Roads Ventures and F-Prime Capital as strategic thought partners as we build a leading global biologics company that leverages innovation to enhance global health,” said Sandeep Singh, managing director at Alkem Labs.
Enzene Biosciences Ltd. is a technology-focused biotechnology company with headquarters in the city of Pune in India. They are working hard to improve healthcare all over the world by capitalising on disruptive innovation.
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“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.
About Enzene Biosciences
Enzene is a pharmaceutical company that specialises in the production of biosimilars, novel biologics, synthetic peptides, and phytopharmaceuticals. It is a subsidiary of the pharmaceutical company Alkem Labs.