PlasmaGen raises Rs 160.4 crore from Eight Roads Ventures, F-Prime
Bengaluru: PlasmaGen BioSciences Private Limited, a city based biopharmaceutical company focused on blood plasma-derived products, announced USD 25 million (Rs 160.4 Crore) investment from Eight Roads Ventures and F-Prime Capital.
The terms of the transaction were not disclosed.
This is the first round of external funding for the company, which was led by Eight Roads Ventures India (the proprietary investment arm of FIL, Fidelity International Limited) with participation from US-based F-Prime Capital Partners and the founders, PlasmaGen said in a release.
PlasmaGen was incorporated in 2010 by Vinod Nahar, a first-generation entrepreneur and the founder of RSM Pharma, a pharmaceutical distributor in Bengaluru, and Trigenesis Lifesciences, a healthcare products company catering to international markets.
"This investment will help us grow multifold, as we aim to expand our product portfolio, achieve deeper market penetration and look at new opportunities in strengthening our current product supply chain," Nahar said.
As part of the investment, Dr Prem Pavoor, Partner at Eight Roads Ventures and Dr. Robert Weisskoff, Partner at F-Prime Capital Partners will join the board at PlasmaGen, the company said.