Enzene Biosciences Ltd, a Pune-based biotech startup, has raised $50 million (around Rs 410 crore) in a fresh funding round led by its parent entity Alkem Laboratories Ltd.

The funding round also saw participation from Eight Roads Ventures and F-Prime Capital. Enzene did not disclose the valuation post this fundraise.

As per the startup, the raised funds will be used to boost its manufacturing capabilities and expand its footprints both in India and abroad.

Enzene Biosciences

A subsidiary of pharmaceutical company Alkem Labs, Enzene focuses on producing biosimilars, novel biologics, synthetic peptides and phytopharmaceuticals.

Speaking about the development, Sandeep Singh, Managing director at Alkem Labs, said, 

“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.”

Enzene has an end-to-end development platform- from its own propriety CHO duos cell lines to high throughput upstream and downstream platforms, comprehensive drug product development capabilities backed by state-of-the-art advanced analytical technologies the startup supports speedy development of pre-clinical and clinical drug candidates.

Commenting on the development, Prem Pavoor, senior partner, head of India and healthcare investments, Eight Roads Ventures, said,

“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.” 

Post-pandemic, India’s biotech space has started garnering investors’ traction, and since last year the segment has been witnessing funding inflow.

In June 2022, Zaara Biotech, a biotechnology startup fostered under the Kerala Startup Mission’s (KSUM) flagship Innovation and Entrepreneurship Development Centre (IEDC) scheme, raised an undisclosed amount. A month later, String Bio Pvt. Ltd made the first closure of its Series B round after raising $20 million, led by Woodside Energy. 

Follow us and connect with us on Instagram, Facebook, Twitter, and LinkedIn.

Note: If you are a budding entrepreneur and require assistance to register a Pvt Ltd Company, register a company, create financial projections, business development, LLP Registration, compliance filing, funding formalities, CFO Services, or other startup related legal services, contact us.