Enzene Biosciences Ltd. raises $50 million

Enzene Biosciences Ltd, an innovation-driven biotech company, a subsidiary of Alkem Laboratories Ltd.,  has raised $50 million from Alkem Laboratories Ltd. our India Ventures team and F-Prime Capital. The newly raised funds will be used to enhance manufacturing capabilities and drive expansion plans both in India and in the US.

Enzene has set-up fully integrated biotech process development and manufacturing capabilities across multiple modalities and platforms by deploying disruptive and innovative cutting edge technologies. The Company has successfully leveraged its platform to develop a captive pipeline of biosimilars which have been out-licensed to pharmaceutical companies across global markets while also offering end-to-end contract development and manufacturing (CDMO) services to biotechnology companies.

Dr. Himanshu Gadgil, CEO at Enzene Biosciences Ltd. said, “We’re delighted to partner with Eight Roads Ventures and F-Prime Capital, leading global biotech investors, as we continue on our mission towards delivering innovative and cost effective bio-manufacturing for biosimilars and novel biologics globally through our disruptive process technologies, advanced analytics and state-of-the-art manufacturing facilities.”

Enzene is amongst the first movers globally to have set up an end-to-end continuous manufacturing platform for biologics. Its facility in Pune, which began operations in 2019, is capable of delivering significantly higher yields compared to a traditional fed-batch manufacturing plant and is able to handle unstable biologic products which conventional manufacturing platforms have struggled with. Presently, Enzene has plans to set-up an R&D and manufacturing centre in the US which will replicate these capabilities, helping Enzene to expand its footprint globally.

“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 Mr. Sandeep Singh, Managing Director, Alkem Laboratories Ltd.

We have been tracking the broader biologics segment in India for several years, seeking disruptive technologies, products and management teams.
Dr. Prem Pavoor, Senior Partner, Head of India & Healthcare Investments, Eight Roads Ventures