Stelis Biopharma, the biotech arm of Strides Pharma Science, announced on 19th March 2021 that it has raised US $ 195 million in its Series B and Series C rounds combined. The Series C round was led by TPG Growth along with participation from other investors including RouteOne, GMS holdings, Think Investments and Mankekar Family Office; whereas the Series B round was led by the family office of the promoters.
Investors: TPG growth, the lead investor of Series C round, is a San Francisco based private equity firm that was founded in 2007 by William McGlashan. It mainly focuses on growth equity and middle-market buyout opportunities. It, as it claims, currently manages around US $ 17.7 billion in assets under management across various sectors and geographical locations.
Purpose of investments:
Stelis Biopharma plans on utilising the new round of funds to scale up its vaccine unit in Bangalore, produce around 800 million vaccines annually (including Covid19 vaccines) and ramp up its contract manufacturing business.
About Stelis Biopharma:
Stelis Biopharma is a Bangalore, India, based biopharmaceutical company that was founded in 2007 as the biotech arm of Strides Pharma Science. It primarily focuses on manufacturing compliant and affordable biotherapeutics to meet the growing needs of the world.
It states its vision as follows- “To be globally recognized as a leading company, preferred employer and disruptive force in the biotherapeutics market, delivering affordable medicines complying with global standards.”
What the founder has to say:
“Stelis is now getting into its growth phase and is witnessing strong customer traction for its CDMO (contract development and manufacturing organization) offerings including vaccines. We are confident to build a sustainable business and deliver significant value for our shareholders”—Arun Kumar, founder of Strides Group.
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