Contract drug manufacturing company, V-Ensure Pharma Technologies, on Tuesday said it raised Rs 130 crore ($17.5 million) in funding led by Investcorp, along with Asia-based private investment firm, Tanas Capital.
With this current investment, Investcorp has completed its third healthcare investment in India and first in the pharmaceutical sector.
The Mumbai-based startup will use the fresh capital to pursue growth opportunities across North America, Europe, and other global markets for the development and launch of its products.
Satyanarayana Vemula, CEO of V-Ensure, said,
“We are delighted to partner with Investcorp as we expand our business from a contract research organisation (CRO) to a fully integrated specialty pharmaceutical company. We will continue to deliver patient centric solutions through our proprietary technology and competence in developing complex generics for regulated markets.”
Founded in 2010 by Satyanarayana Vemula, V-Ensure is a developer of speciality pharmaceutical formulations focused on complex generics for regulated markets. Its core competence lies in the development of complex molecules for regulated markets without infringing on any existing patents.
The company also specialises in developing strategies to obtain regulatory approvals for the commercialisation of these molecules by end-to-end managing the necessary processes and documentation required by the regulator.
V-Ensure claims to have developed solid oral, liquid oral, and injectable products for more than 45 clients across Europe, North America, China, Australia, and Brazil.
With a team of over 150 scientists heading pharmaceutical development programmes for major pharmaceutical markets, the company is also solving problems in R&D and manufacturing.
Gaurav Sharma, Head of Private Equity, Investcorp India, added,
“As our first pharmaceutical deal in India, we are confident that healthcare globally will continue to be centre stage for the future. Investcorp’s global presence and knowledge will potentially help V-Ensure as they look to establish their presence directly in the US market.”
Since 2019, Investcorp has been investing in India across the healthcare, business services, financial services, consumer and retail, and technology sectors. Its investments over the last four years include Nephroplus, Wingreens, Intergrow Brands, Bewakoof.com, FreshToHome, Zolostays, InCred, Citykart, ASG Eye Hospital, Unilog, Xpressbees, and Safari Industries.
Edited by Suman Singh