Synopsis
The Karnataka government-backed venture fund, Kitven has released the second round of venture funds to the Bengaluru headquartered bioscience firm Vipragen bioscience. In this article, we shall explore the purpose for which the funds are being sought and delve into the business activities of Vipragen. The company’s research center is located at No. 67B, Hootagalli Industrial Area, Mysuru.
Introduction
Vipragen Biosciences Pvt. Ltd – a Clinical Research Organization (CRO) certified by National GLP Compliance Monitoring Authority (NGCMA) for OECD-GLP (Good laboratory practices), is making strides recently.
The Mysuru-based company has successfully raised the second round of venture funds. The investors – Karnataka Information Technology Venture Capital Fund (KITVEN) through their Biotech Fund, along with a co-investment from Chennai-based Conscience Multi-Family Office LLP, have extended their support to fuel Vipragen’s growth and expansion plans.
Expansion plans of Vipragen Bioscience
The funds will empower the company to expand its operations and expand into new sectors, such as Nutraceuticals, Agrochemicals, and Medical Devices.
Amidst the growing interest in global strategic partnerships within the preclinical CRO space, Vipragen stands in a unique position to capitalize on its specialized expertise and robust business foundation.
Incubated at the Centre for Cellular and Molecular Platforms (CCAMP) in Bangalore, Dr. Chandrashekaran, Founder Chairman of Vipragen, expressed optimism about India’s growing prominence as a global research hub and he stated that the funds have come in at the right time as there is a lot of excitement in the Indian R&D domain.
Implications of the Funding
Securing VC funding, especially in successive rounds, is a testament to a startup’s viability, market potential and the trust it has garnered in the investor community. For Vipragen, this recent financial boost will likely be channeled into:
Research & Development: Expanding their R&D capabilities to innovate and create market-leading solutions.
Talent Acquisition: Attracting and retaining the best talent is vital for startups. With additional funding, Vipragen can invest in skilled professionals who can drive the company’s vision forward.
Market Expansion: Venturing into newer markets or expanding the existing customer base within their domain.
Infrastructure: Scaling operations might require new equipment, better labs, or even expanding their physical presence.
Background of Vipragen Bioscience
Founded in Mysuru, Vipragen Biosciences is a promising startup that has carved a niche for itself in the biotech sector. The company began conducting safety studies for regulatory submissions. Additionally, the firm has been certified by AAALAC, NABL, and DCGI to support drug discovery research.
Vipragen has deep scientific and research knowledge. The senior leadership team at Vipragen Biosciences boasts a collective experience of over 150 years across various domains. These areas include General Toxicology, Reproductive Toxicology, Genetic Toxicology, Pharmacology, Analytical Chemistry, Bioanalytical, and ADME.
Vipragen Biosience helps clients bring products to market quickly
With over a decade of dedicated service, the company effectively supports clients across diverse research requirements. Thus, ensuring their product portfolios adhere to global quality standards. Furthermore, through collaborative platform development programs with global partners, Vipragen fosters innovative solutions aimed at creating a safer world. Also, Vipragen facilitates clients in expediting global product launches.
The Future is Bright for Vipragen Bioscience
The confidence displayed by Kitven in Vipragen bodes well for the startup’s future. It’s evident that Mysuru is not just about palaces and Dasara; it’s also emerging in the startup universe
However, a startup’s journey is marked by both successes and challenges. Therefore, this funding is a significant milestone for the Mysuru based Vipragen Bioscience. And it will be intriguing to see how they leverage the opportunity to advance in the biotech sector.
Conclusion
In the midst of the ongoing growth of India’s startup ecosystem, stories like Vipragen’s serve as beacons of inspiration. They ignite the entrepreneurial spirit in numerous aspiring individuals. These stories shine a light on the immense potential residing within the nation’s talent pool. And underscore the critical importance of innovative solutions. Such solutions have the power to drive substantial transformation across entire industries, making them a focal point of attention and admiration
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