Piramal Alternatives Invests in Biodeal Pharmaceuticals
April 10, 2024, 9:30 am
Location: India, Himachal Pradesh, Nalagarh
Employees: 201-500
Founded date: 2005
Total raised: $13.21M
Piramal Alternatives, the investment arm of the Piramal Group, has injected Rs 110 crore into Biodeal Pharmaceuticals, a contract development and manufacturing organization. This investment aims to boost Biodeal's solutions, production capabilities, and operations, positioning it as a top nasal spray manufacturer.
The funding will enhance Biodeal's infrastructure, production capacity, and technology, while also establishing a nutraceuticals manufacturing facility. Biodeal already offers nasal sprays, dry powder inhalation capsules, tablets, and ointments through its contract manufacturing services.
The investment was made through convertible instruments from Piramal's Performing Credit Fund. Biodeal recently obtained Pharmaceutical Inspection Co-operation Scheme (PIC/S) approval, strengthening its market position.
Kalpesh Kikani, CEO of Piramal Alternatives, highlighted the potential of the nasal sprays market and Biodeal's regulatory compliance. Anurag Kumar, MD of Biodeal Pharmaceuticals, expressed gratitude for the capital infusion, which will enable the company to expand its production capacity and market reach.
Emkay Global served as the financial advisor for Biodeal Pharmaceuticals in this transaction. This investment signifies Piramal Alternatives' commitment to supporting Biodeal's growth in the promising nasal sprays segment.
The funding will enhance Biodeal's infrastructure, production capacity, and technology, while also establishing a nutraceuticals manufacturing facility. Biodeal already offers nasal sprays, dry powder inhalation capsules, tablets, and ointments through its contract manufacturing services.
The investment was made through convertible instruments from Piramal's Performing Credit Fund. Biodeal recently obtained Pharmaceutical Inspection Co-operation Scheme (PIC/S) approval, strengthening its market position.
Kalpesh Kikani, CEO of Piramal Alternatives, highlighted the potential of the nasal sprays market and Biodeal's regulatory compliance. Anurag Kumar, MD of Biodeal Pharmaceuticals, expressed gratitude for the capital infusion, which will enable the company to expand its production capacity and market reach.
Emkay Global served as the financial advisor for Biodeal Pharmaceuticals in this transaction. This investment signifies Piramal Alternatives' commitment to supporting Biodeal's growth in the promising nasal sprays segment.