Saturday, 03 December 2022

Symbio Generrics completes capital raise from Ascent Capital

08 November 2022 | News

Company currently employs over 100 people including 15 scientists to fuel the R&D pipeline and it is proposed to double the employee count by end of this fiscal

image credit- shutterstock

image credit- shutterstock

Symbio Generrics India, a specialised Active Pharmaceutical Ingredients (API) & Intermediates manufacturing and marketing organisation, recently completed an equity capital raise from Ascent Capital, a leading growth-capital focused private equity fund.

Through a well-developed customer ecosystem, the highly experienced & skilled team at Symbio has established a global footprint for its APIs. Ascent Capital’s sizeable investment in Symbio will further accelerate the company’s expansion plans and sets the company enroute to emerge as a top-10 manufacturer of APIs in India.

The funds raised from Ascent will be utilised towards undertaking strategic acquisitions, establishing a best-in-class R&D facility and ramping up manufacturing capacity. The company’s R&D centre is housed in Bengaluru while the manufacturing plant is located at Dobbaspet, Bengaluru. The company is in the process of acquiring another manufacturing facility in India. The team is focused on building a high-potential generics API portfolio for the global markets and to this effect, will work towards getting US FDA and other regulatory authority approvals for their recently acquired facilities.

 

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