Under the direction of Dr. Himanshu Gadgil, CEO of Enzene Biosciences Ltd., Enzene claimed to have assembled a 400-person team with a wealth of experience.
Alkem Laboratories Ltd. subsidiary Enzene Biosciences Ltd. (also known as “Enzene”) announced that it has raised $50 million from Alkem Laboratories Ltd. as well as two new investors, Eight Roads Ventures and F-Prime Capital.
Enhancing manufacturing capabilities and advancing growth goals in both India and the US will be accomplished using the recently collected cash.
Enzene claimed to have developed a captive pipeline of biosimilars by effectively utilizing its platform. In addition to providing biotechnology businesses with full-service contract development and manufacturing (CDMO) services, these have been out-licensed to pharmaceutical firms operating on a variety of international marketplaces.
The market for biologic pharmaceuticals has grown quickly in all therapeutic categories and is already $300 billion. High-quality contract manufacturers now have a tonne of opportunity as a result of the enormous growth in biologic pharmaceuticals being produced that has exceeded global supply capabilities.
Additionally, the segment’s wave of patent expirations has created a significant market opportunity for biosimilar goods. Four of Enzene’s biosimilars have been commercialized in India, and the company currently has fourteen more items in various stages of development. For commercial rights in developing and regulated areas, partnerships have already been formed for several of its in-market and pipeline goods.
Dr. Prem Pavoor, Senior Partner, Head of India and Healthcare Investments, Eight Roads Ventures, noted that organizations like Enzene place India well at the forefront of global biotech innovation.
According to Dr. Ketan Patel, Partner at F-Prime Capital, Enzene’s worldwide major markets continue to be the US and Europe, while they are looking to grow into other regions in their quest to become the most sought-after CDMO.