New Delhi [India], March 16 (ANI/SRV):
, a bioprocess engineering company, announced a Series A equity raise of Rs 30 crore from SIDBI Venture Capital Limited.
Commenting on the occasion, 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". He further added that "Scalable and Efficient bioprocessing technologies, specifically the Single-use bioreactor platforms are in high demand worldwide for the production of vaccines and other biologicals. Innovation-based technology solutions from OmniBRx have the potential to meet these exponentially growing market demands of biologics and vaccines.
The 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. 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 an infusion of series-A funds, OmniBRx is all set to expand its business in the overseas market. The company would also invest in adding to its capacity and building best-in-class manufacturing facilities to augment its production capabilities and meet growing market demands.
Sajit Kumar. Sr. VP at SIDBI Venture Capital Limited quoted "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", a fund for MSME's focused on scaling up in the export markets. Wishing them all the best".
Delhi-based Indus Capital, a boutique investment bank, founded by Santosh Patra was the exclusive financial advisor to OmniBRx for this transaction.
About OmniBRx, it is an Ahmedabad-based Bioprocess engineering company focused on the design and development of novel single-use bioreactors (SUBs) for cell culture-based bioprocessing applications i.e. Vaccines, Gene therapies, and biologics production. The Company was incorporated in 2016 and successfully launched its innovative products like CellBRx and MiniBRx single-use Bioreactor platforms.
About SIDBI Ventures, the company incorporated in 1999, is a wholly owned subsidiary of SIDBI (www.sidbi.in), the Apex Financial Institution in India for the MSME sector. Over the years SVCL has set up and managed several Venture Capital Funds / AIFs, "Ubharte Sitaare Fund" is the eighth Fund set up and managed by SVCL.
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