Piramal Alternatives infuses Rs 110 crore in Biodeal Pharma
Mumbai: Piramal Alternatives, the fund management division of the Piramal Group, has announced a significant investment of INR 110 Cr. in Biodeal Pharmaceuticals Limited, a contract development and manufacturing company, facilitated through convertible instruments from its Performing Credit Fund.
The funding will be directed towards improving infrastructure and capacities, upgrading technology, and underlay a dedicated nutraceuticals manufacturing facility. Biodeal offers a wide range of products.
Earlier this year, the company attained its PIC/S approval. Additionally, Biodeal's offerings span various dosage formats, including dry powder inhalation capsules, capsules, tablets, ointments, lotions, and dusting powder.
Kalpesh Kikani, CEO, Piramal Alternatives said, “The strong market potential of the nasal sprays segment, along with the Biodeal’s leading position in contract manufacturing and adherence to global regulatory standards, presents an exciting opportunity for us. Through Piramal Alternatives, we are committed to providing flexible, bespoke, and value-accretive capital to support Biodeal's growth trajectory in this promising segment."
Read also: Piramal Pharma Solutions unveils in-vitro biology capabilities at Ahmedabad Discovery Services Site
Anurag Kumar, MD, Biodeal Pharmaceuticals Limited said, “The infusion of capital from Piramal Alternatives will empower the Biodeal to be ready with new upcoming facility in compliance with USFDA accreditations in coming 12-15 months. This capital raise will boost us to accelerate our existing production capacity by 3 times and will bolster our manufacturing capabilities, and expand our market reach. With a renewed focus on innovation and efficiency and USFDA compliance infrastructure, Biodeal is poised to introduce novel solutions that address unmet medical needs and enhance patient outcomes with the unique drug delivery system as Nasal Sprays (nasal route of administration) across geographies and regulatory regimes.”
Emkay Global was the exclusive financial advisor to Biodeal for this deal.
