May 2, 2024
InvAscent, through India Life Sciences IV (ILSF IV), in partnership Morgan Stanley Private Equity Asia, has invested INR 10,000 Mn in Maiva Pharma, India’s 2nd largest pure play injectables Contract Development and Manufacturing Organization (CDMO).
Maiva has a US FDA, EU GMP and ANVISA approved state-of-the-art manufacturing facility located at Hosur, India with a strong regulatory compliance track record and sterile injectables capabilities in vials and lyophilized vials. The Company has a portfolio of 75+ products catering to 40+ customers across the US, Canada, Europe, Australia, and LATAM markets.
Maiva plans to use the proceeds from fund raise to set up a new manufacturing facility near Hosur, India with capabilities in sterile dosage forms including pre-filled syringes, bags, oncology and hormonal injectables.
Sumit Gupta, Managing Director at InvAscent (Investment Manager to India Life Sciences Fund IV) said, “We have known Bhaskar and team for more than a decade now and are very impressed with their journey to become a preferred injectables CDMO partner of choice for many of the large customers across US, Europe and other emerging markets. Complex injectables development and manufacturing capability, strong compliance and regulatory standards along with transparency and leadership, differentiate Maiva from its competitors. We are delighted to partner with Maiva in its vision to become a global leader in sterile injectables.”
Dr. Bhaskar Krishna, Managing Director and CEO at Maiva Pharma said, “Over the last three years, Maiva has quadrupled its manufacturing capacity for US, Canada, and EU markets. Based on continued strong interest from customers in partnering with Maiva, we will expand at a greenfield site near Hosur. This fundraise will be used to add more vial, lyophilization, and suspension capacity and introduce new manufacturing capabilities such as prefilled syringes, cartridges and bags. We are delighted to work with Morgan Stanley and InvAscent and we look forward to benefitting from their extensive experience in the healthcare space and their global reach.”
About InvAscent
Founded in 2005, InvAscent is the investment advisor to a family of funds that operate under the name “India Life Sciences Fund” or ILSF. It has so far raised about USD 650 Mn from global investors across four funds and deployed the same in 36 companies across Pharma, Healthcare Delivery, HealthTech, Medical Devices, and Animal Health industries. The investment team at InvAscent has deep domain expertise and a track record of value creation in the Life Sciences space.
For more information about InvAscent, please visit www.invascent.com
About Maiva Pharma Private Limited
Incorporated in 1993, Bengaluru based Maiva Pharma has built a reputation as a reliable supplier and partner for sterile injectables contract manufacturing, focusing on regulated markets. The company operates a manufacturing facility in Hosur, approved by US FDA, EU GMP and ANVISA, where it manufactures sterile solutions in vials and lyophilized vials. Maiva Pharma has gained recognition for its commitment to quality, compliance and ethical business practices in US, Europe, Canada, Australia and LATAM. The company’s services include – product development and commercial supply (CDMO), technology transfer for commercial supply and site transfer for commercial supply.
For more information about Maiva, please visit www.maivapharma.com