Eight Roads Ventures and healthcare investor F-Prime Capital have invested $50 million (or around Rs 408 crore) in biotech business Enzene Biosciences, a division of Mumbai-based pharmaceutical company Alkem Laboratories. Enzene stated in a press release that it will use the additional funding to improve its production capabilities and promote growth in its main markets of India and the US.

Enzene, a company established in Pune, specialises in creating innovative biologics, synthetic peptides, and phytopharmaceuticals. Enzene intends to establish a production and research & development facility in the US. For several years, we have monitored the Indian biologics market as a whole in search of innovative technology, goods, and management teams. Prem Pavoor, senior partner and head of India and healthcare investments at Eight Roads Ventures, said that organisations like Enzene place India well at the forefront of global biotech research.

The US financial services giant Fidelity supports Eight Roads, which has invested more than $1.5 billion in venture capital in the nation. Eight Roads has sponsored companies such software platforms Whatfix, Icertis, and online pharmaceutical business Pharmeasy. Eight Roads debuted its first $250 dedicated product in May 2022.

According to Ketan Patel, partner at F-Prime Capital, "On a global scale, the US and Europe continue to be major markets for Enzene with the aim of growing into new geographies in their ambition to become the most sought after CDMO (contract development & manufacturing organisation)." F-Prime has made investments in companies like Immuneel, a pharmaceuticals venture, Core Diagnostics, and Pharmeasy in India.