Stelis Biopharma inform that Stelis has completed the Series C round fund raising of USD 125 Million (including secondary placement of USD 40 Million) from marquee long term investors led by TPG Growth followed by other long-term investors namely, Route One, Think Investments and the Mankekar Family.
The funds will be used by Stelis for:
- Completion of last mile capex for the CDMO business including setting up of 6KL mammalian block, ramp up of process development lab and other technical capabilities;
- Accelerating the vaccine block infrastructure with ability to cater to multiple vaccine types including viral vector, protein subunit, RNA and DNA;
- Debt servicing and other general corporate purposes.
Consequent to the above transaction, Strides stake in Stelis now stands at 37.09% against 54.48% prior to the Series C funding.