In Short:
Maiva Pharma, a Bengaluru-based injectables company, raised ₹1,000 crore from Morgan Stanley Private Equity Asia and ILSF-IV. The funds will be used to set up a new manufacturing facility near Hosur for sterile dosage forms like pre-filled syringes, bags, oncology, and hormonal injectables. Maiva has a strong regulatory track record and caters to customers across the US, Canada, Europe, Australia, and LATAM markets.
Maiva Pharma Raises ₹1,000 Crore to Expand Manufacturing Facility
Exciting news alert! Maiva Pharma, a Bengaluru-based injectables company, has successfully raised a whopping ₹1,000 crore from a fund managed by Morgan Stanley Private Equity Asia and India Life Sciences Fund – IV (ILSF – IV). Not only that, but they have also acquired a controlling stake from existing investors and injected primary capital into the company.
First Fund Raise for Maiva Pharma
This marks the first fund raise for Maiva Pharma, a pure play injectables Contract Development and Manufacturing Organization (CDMO) focused on North America. The company is all set to make big waves in the pharmaceutical industry!
New Manufacturing Facility on the Horizon
The newly acquired funds will be utilized for setting up a state-of-the-art manufacturing facility near Hosur. This facility will have capabilities in sterile dosage forms including pre-filled syringes, bags, oncology and hormonal injectables. The company is definitely gearing up for some major advancements!
Expanding Product Basket
Maiva Pharma currently offers a 75-odd product basket for CDMO services and caters to over 40 customers across various markets. With regulatory approvals from multiple countries, the company has a strong track record in regulatory compliance and sterile injectables capabilities.
Exciting Future Plans
Dr. Bhaskar Krishna, Maiva’s Managing Director and CEO, expressed his excitement about the future. He mentioned, “Over the last three years, Maiva has quadrupled its manufacturing capacity for US, Canada, and EU markets. Based on continued strong interest from customers in partnering with Maiva, we will expand at a greenfield site near Hosur. This fundraise will be used to add more vial, lyophilization, and suspension capacity and introduce new manufacturing capabilities such as prefilled syringes, cartridges, and bags.”
Nirav Mehta, Managing Director and Co-Head at Morgan Stanley Private Equity Asia, also shared his thoughts on the growing injectables CDMO market. The future looks very promising indeed!
