Piramal Alternatives invests ₹110 cr in Biodeal Pharmaceuticals

livemint.com:

₹110 crore in Biodeal Pharmaceuticals Ltd, a contract development and manufacturing organization. The company in a filing disclosed that the deal is being facilitated through convertible instruments from its performing credit fund and will be directed towards improving infrastructure and capacities, upgrading technology, and nutraceuticals manufacturing facility. Emkay Global was the exclusive financial advisor to Biodeal for this deal.

Piramal Alternatives is an institutional capital provider in India with a total of $1.5 billion under management. “The strong market potential of the nasal sprays segment, along with Biodeal’s leading position in contract manufacturing and adherence to global regulatory standards, presents an exciting opportunity for us," said Kalpesh Kikani, CEO, Piramal Alternatives. “Through Piramal Alternatives, we are committed to providing flexible, bespoke, and value-accretive capital to support Biodeal's growth trajectory in this promising segment," said Kikani.

Noida-based Biodeal specializes in contract manufacturing products like nasal sprays to marquee international and domestic pharmaceutical companies. Its offerings span various dosage formats, including dry powder inhalation capsules, capsules, tablets, ointments, lotions, and dusting powder, the company added. “The infusion of capital from Piramal Alternatives will empower the Biodeal to be ready with a new upcoming facility in compliance with USFDA accreditations in the coming 12-15 months.