PlasmaGen Biosciences raises Rs 150 crore in funding from ViNS Bioproducts, others

PlasmaGen Biosciences has raised Rs 150 crore in a funding round led by ViNS Bioproducts, with participation from high-net-worth individuals, family offices, pharma entrepreneurs, and existing investors.

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

The company, which is backed by Eight Roads Ventures, has now raised more than Rs 600 crore to date. Its investor base includes Eight Road Ventures, F-Prime Capital, Fidelity’s FIL Capital Investments, UK-based Artian Investments, and several prominent HNIs.

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

Founded in 2010, PlasmaGen develops, manufactures, and markets blood plasma-derived therapies, including albumin, immunoglobulins, anti-D products, and clotting factors. These therapies are used across neurology, hematology, and critical care, and are supplied to private hospitals as well as state governments across India.

The latest fundraise follows the start of commercial operations in December 2023 at PlasmaGen’s plasma fractionation facility in Kolar, near Bengaluru.

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

PlasmaGen said the fresh capital will be used to scale international operations, expand its product portfolio, and strengthen manufacturing and leadership capabilities.

“The past year has been transformational for PlasmaGen, marking a step change in the scale and reach of the company. This momentum has put us on an exponential growth trajectory,” said Vivek V Kamath, CEO of PlasmaGen Biosciences.