Around Rs 410 crore has been raised by Biotech startup Enzene Biosciences Ltd has secured $50 million in a fresh funding round led by its parent entity Alkem Laboratories Ltd, with participation from F-Prime Capital and Eight Roads Ventures.

Pune-based Enzene will deploy the new proceeds to boost its manufacturing capabilities and expand its footprints in India and abroad.

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Enzene Biosciences Ltd subsidiary is Alkem Labs, a novel biologics focused on producing biosimilars, phytopharmaceuticals and synthetic peptides.

Meanwhile, Mumbai-headquartered Alkem produces branded generic drugs, generics, generic drugs, nutraceuticals, and active pharmaceutical ingredients, which it markets in global markets and India.

In 2022, the Biotech space saw a spate of investments as it started garnering investors’ traction post-pandemic. In July, biotechnology company String Bio Pvt Ltd made the first closure of its Series B round after raising $20 million led by Woodside Energy, with participation from Ankur Capital, Dare Ventures, Redstart and Zenfold Ventures.