Latest News | SIDBI Venture Capital Makes Rs 30 Cr Equity Investment in OmniBRx Biotechnologies

New Delhi, Mar 13 (PTI) SIDBI Venture Capital has invested Rs 30 crore in bioprocess engineering company OmniBRx Biotechnologies Pvt Ltd.

OmniBRx announced Series A equity fundraising of Rs 30 crore from SIDBI Venture Capital Ltd, a company statement said.

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Ravindra Patel, founder and CEO of OmniBRx Biotechnologies said, "We are thankful to the team at SVCL for believing in our vision and backing us on our expansion plans".

"Scalable and Efficient bioprocessing technologies, specifically the Single-use bioreactor platforms are in high demand worldwide for the production of vaccines and other biologicals," he added.

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Innovation-based technology solutions from OmniBRx have the potential to meet these exponentially growing market demands of biologics and vaccines, he said.

CellBRx -- single-use Bioreactors -- from OmniBRx is the world's largest and most efficient vaccine manufacturing platform for large-scale vaccines and viral vector production, it stated.

OmniBRx is also the creator of the world's first integrated seed train development platforms in close-loop sequentially programmed bioreactor systems, Ravindra added.

With the infusion of series-A funds, OmniBRx is all set to expand its business in the overseas market.

Sajit Kumar Senior VP at SIDBI Venture Capital Limited said, "We are happy to partner with OmniBRx. We believe that their focus and deep domain knowledge will help them to penetrate the global markets. This is our third investment out of 'Ubharte Sitaare Fund', the fund for MSMEs focused on scaling up in the export markets. Wishing them all the best".

Delhi-based boutique investment bank Indus Capital, founded by Santosh Patra, was the exclusive financial advisor to OmniBRx for this transaction.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)