NEW DELHI: Piramal Pharma on Tuesday said it has invested Rs 101.77 crore in Hyderabad-based Yapan Bio to augment the capabilities of its contract development and manufacturing organisation (CDMO) business.
The Mumbai-based company has acquired a 27.78 per cent stake in Yapan as a result of the investment.
The investment will allow Piramal Pharma to strengthen Piramal Pharma Solutions (PPS), its CDMO business, by broadening its service offerings.
"The expertise found at Yapan will help Piramal provide existing customers with wider capabilities for developing and manufacturing large molecules. This investment further supports our growth strategy," Piramal Pharma Chairperson Nandini Piramal noted.
Yapan Bio provides process development, scale-up and cGMP compliant manufacturing of vaccines and biologics/bio-therapeutics, including high containment product classes (up to BSL-2+), recombinant vaccines, RNA/DNA vaccines, gene therapies, monoclonal antibodies, therapeutic proteins, and other complex biologics.
Its FY21 turnover stood at Rs 12.4 crore.
The company has already earned revenues of Rs 11.8 crore in the first half of FY22.
"During the past decade, biologics and their accompanying development services are the fastest-growing segments of the CDMO market.
"This investment, coupled with the market-leading capabilities of our Grangemouth, UK site in antibody-drug conjugations and our sterile fill/finish capabilities in Lexington, USA, demonstrates our commitment to growing our service offerings in the large molecule CDMO space," Piramal Pharma Solutions CEO Peter DeYoung said.