PlasmaGen Biosciences has raised Rs 150 crore in a funding spherical led by ViNS Bioproducts, with participation from high-net-worth people, household workplaces, pharma entrepreneurs, and current traders.

The Bengaluru-based biopharma startup secured the capital at a valuation of over Rs 1,500 crore.

The corporate, which is backed by Eight Roads Ventures, has now raised greater than Rs 600 crore up to now. Its investor base contains Eight Highway Ventures, F-Prime Capital, Constancy’s FIL Capital Investments, UK-based Artian Investments, and a number of other outstanding HNIs.

In 2023, PlasmaGen raised Rs 225 crore, whereas an earlier spherical in 2017 had introduced in about Rs 160 crore from Eight Roads and F-Prime Capital.

Based in 2010, PlasmaGen develops, manufactures, and markets blood plasma-derived therapies, together with albumin, immunoglobulins, anti-D merchandise, and clotting elements. These therapies are used throughout neurology, hematology, and demanding care, and are provided to non-public hospitals in addition to state governments throughout India.

The most recent fundraise follows the beginning of business operations in December 2023 at PlasmaGen’s plasma fractionation facility in Kolar, close to Bengaluru.

ViNS Bioproducts, the lead investor, is a 28-year-old pharmaceutical firm that develops and manufactures antivenom for snake and scorpion bites, antitoxins for tetanus, diphtheria, and gangrene, and anti-rabies serums.

PlasmaGen stated the recent capital will likely be used to scale worldwide operations, develop its product portfolio, and strengthen manufacturing and management capabilities.

“The previous 12 months has been transformational for PlasmaGen, marking a step change within the scale and attain of the corporate. This momentum has put us on an exponential progress trajectory,” stated Vivek V Kamath, CEO of PlasmaGen Biosciences.