The funds will be utlilised for clinical trials of pipeline molecules and securing IP for technologies for novel biological entities in oncology and CNS segments
Epygen Biotech plans to raise Rs 300 crores in the next three years to fuel launch of its biosimilar pipeline. Reportedly, the funding will be used to help Epygen with the best possible conditions to propel clinical trial programmes of its pipeline molecules in the field of oncology and cardiology, which are showing substantial promise in protein expression and purification.
The company aims to take a lead role in the biosimilar field in the region. From a pipeline full with E Coli and mammalian proteins, the company has chosen to launch Biosimilar Recombinant Streptokinase (rSK) for the cardiovascular segment in India by 2019.
The company is also upgrading its R&D capabilities by setting up a 1,00,000 sq ft biopharma facility in Patalganga, Maharashtra, where Phase-I of the Project is dedicated to E Coli based biosimilars for cardiovascular, oncology and rheumatology and Phase-II to make mammalian cell-based monoclonal antibodies for oncology, jointly targeting more than $10 billion market. The company informs that the fresh fund infusion would be utlilised for clinical trials of the pipeline molecules and securing intellectual property (IP) for a range of medium and late stage technologies for novel biological entities in oncology and CNS segments.