Hyderabad: Piramal Pharma Limited (PPL) on Tuesday announced to invest Rs 101.77 crore in Yapan Bio Private Limited, Hyderabad, to augment capabilities of its Contract Development and Manufacturing Organization (CDMO) business -- Piramal Pharma Solutions (PPS).
PPL will hold a 27.78 percent equity stake in the company after the investment. The investment in Yapan Bio allows PPS to broaden its service offerings in the fast-growing biologics CDMO space.
As PPS continues to strengthen its capabilities and position itself as a leading CDMO, this acquisition marks a significant addition to PPS' global capabilities in the development and manufacturing of large molecules for human clinical trials, the pharma company said.
Yapan Bio provides process development, scale-up, and cGMP compliant manufacturing of vaccines and biologics/bio-therapeutics, including high containment product classes (up to BSL2+), recombinant vaccines, RNA/DNA vaccines, gene therapies, monoclonal antibodies, therapeutic proteins, and other complex biologics. Yapan's FY21 turnover was INR 12.4 crore and it has earned revenues of Rs 11.8 crore for H1FY22.
"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 for Piramal Pharma," said Nandini Piramal, Chairperson, Piramal Pharma Limited.
Peter DeYoung, CEO, Pharma Solutions, said: "The 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."
Atin Tomar and Nirav Desai, CEO and COO of Yapan said they are confident that PPS is the ideal partner to take the business through its next phase of growth. "Yapan's employees and customers, who are the core stakeholders of our business, will most assuredly benefit from PPS' expertise in providing integrated services on a global scale," they said.