Eight Roads, F-Prime invest $25m in India's PlasmaGen
Indian biopharmaceuticals company PlasmaGen BioSciences has raised a $25 million funding round led by Eight Roads Ventures.
US-based investor F-Prime Capital Partners also participated in the round. Both VCs are investment arms of asset management giant Fidelity International.
Founded in 2010, PlasmaGen claims to be the first company in India focused on plasma protein therapeutics, a discipline involving unique biologic medicines for the treatment of a number of rare diseases. It is expected to use the fresh capital to enhance marketing efforts as well as product and supply chain development.
“There is a very large gap between demand and supply of plasma products not only in India but across Asia; India is very strategically placed as an emerging economy with huge demand potential,” said Ranjeet Ajmani, CEO of PlasmaGen, according to VCCircle.
Asia is said to account for only 20% of global plasma fractionation capacity despite representing some 60% of the global population. Plasma fractionation is the process of separating useful medical products from blood plasma.
Eight Roads and F-Prime - previously known as Fidelity Growth Partners and Fidelity Biosciences, respectively - have a history of collaboration in India's healthcare space. In April, they participated in a $21 million Series B for online doctor networking start-up Medwell Ventures. They also backed a $10 million round for the company in 2015.
More on South Asia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.