Biotech company Enzene Biosciences Ltd (Enzene), a subsidiary of Alkem Laboratories, has raised $50 million from Alkem Laboratories, Eight Roads Ventures, and F-Prime Capital.

The company hopes to use the funds to improve manufacturing capabilities and drive expansion in India and the US. 

“We are thrilled to be partnering with Alkem Laboratories and Enzene to build a global biosimilars and biologics powerhouse out of India,” said Dr Prem Pavoor, Senior Partner, Head of India & Healthcare Investments, Eight Roads Ventures.

Pune-based Enzene has established fully integrated biotech process development and manufacturing capabilities across multiple modalities and platforms, said a statement. It has developed a captive pipeline of biosimilars that have been out-licensed to pharmaceutical companies across global markets. It also offers end-to-end contract development and manufacturing services to biotechnology companies.

Enzene offers a range of biologics services, with capabilities such as clone development and good manufacturing practice (GMP) supported by bioreactor capacities ranging from 20 litres to 2,000 litres. It focuses on producing biosimilars, novel biologics, synthetic peptides, and phytopharmaceuticals.

Dr Himanshu Gadgil, CEO, Enzene Biosciences Ltd, hoped to continue the company’s mission towards delivering innovative and cost effective bio-manufacturing for biosimilars and novel biologics globally.