BRIEF—Stelis Biopharma completes $195 million financing

Stelis Biopharma has completed a series B and series C fund raise for a cumulative amount of $195 million.

The firm said it was now “well-positioned to pursue its growth initiatives and scale its business model.”

The Indian company will use the money to help build out its contract development and manufacturing (CDMO) business, including the establishment of a process development lab and vaccines infrastructure.

As part of the financing round, Bengaluru-based firm Strides will demerge and list its biopharma business under the Stelis name, with shareholders taking a third of the newly-formed entity.

The firm said it was “getting into its growth phase and witnessing strong customer traction for its CDMO offerings including vaccines.”