Enzene Biosciences, a biotech company and a subsidiary of Alkem Laboratories has raised $50 million from Alkem Laboratories and new investors, Eight Roads Ventures 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.
It has a captive pipeline of biosimilars that have been out-licensed to pharma companies across global markets while offering end-to-end contract development and manufacturing (CDMO) services to biotechnology companies. Enzene has commercialised four biosimilars in India and has another fourteen products in the pipeline at various stages of development. Many of its in-market and pipeline products have already been partnered for commercial rights in emerging and regulated markets.
Dr Himanshu Gadgil, CEO at Enzene Biosciences 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.”
A company release informed, “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, 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, MD, Alkem Laboratories.
Dr Prem Pavoor, Senior Partner, Head of India & Healthcare Investments, Eight Roads Ventures, added, “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.”
“Internationally, the US and Europe remain key markets for Enzene with the aim of expanding into new geographies in their mission to becoming the most sought-after CDMO,” said Dr Ketan Patel, Partner at F-Prime Capital.