Ascent Capital successfully completes a capital raise for Symbio Generrics, an ex-Biocon team.

Symbio Generrics India Private Limited (Symbio) received an equity capital raise from Ascent Capital . Ascent Capital is a leading growth-capital focused private equity firm .

Symbio Generrics India Private Limited (Symbio), a specialist Active Pharmaceutical Ingredients (API) & Intermediates manufacturing and marketing firm, announced today that it had received an equity capital raise from Ascent Capital, a leading growth-capital focused private equity firm.Akash Puranik, a third promoter, joined them soon after, all of whom have decades of experience in the global pharmaceutical industry.Symbio's transformation from a sales and marketing firm to a full-fledged vertically integrated manufacturer of specialized APIs has been exemplary.Symbio's highly skilled and dedicated team has a worldwide presence.

Ascent will fund strategic acquisitions, the construction of a best-in-class R&D center, and the expansion of the company's manufacturing capacity.The company's R&D center is headquartered in Bengaluru, while the manufacturing center is located in Dobbaspet, Bengaluru.The company is also preparing to build another manufacturing facility in India.During the fund raise, Salim Shaikh, Executive Chairman & Founder of Symbio Generrics, said, We are proud to be associated with Ascent Capital, which has a reputation for working with entrepreneurs to build successful companies in India.

We're setting ourselves a medium-term goal of transforming into a competitive corporation by harnessing the strength of our team and expanding our reach to effectively serve the global API market, says Akash Puranik, Promoter, MD& CEO of Symbio Generrics.We've developed strategic alliances and working relationships with leading pharmaceutical firms in regulated and semi-regulated markets over the last two decades and are now working to leverage these synergies even further in the international arena.Ascent Capital Founder and CEO Raja Kumar said that with a well-developed infrastructure both on the production and R&D fronts, we are eager to collaborate with potential partners.Symbio is proud to continue with this tradition by working with the first-generation technocrats who created it.

We are looking forward to working closely with the Ascent team to ensure that we have another category leader from the Ascent stable, such as BigBasket, Sequent, and Skanray, to name a few.Symbio was represented by Symbio, the legal counsel for the fund raise from Ascent Capital as well as the follow-on acquisitions by IC Universal Legals Chennai team led by Senior Partner Sameena Chatrapathy.Symbio Generrics India Private Limited (Symbio), founded in the year 2010, is a manufacturer and marketing firm of Specialized Active Pharmaceutical Ingredients (API) & Intermediates with its headquarters in Bengaluru.Symbio was founded by first-generation entrepreneurs who came from a leading pharmaceutical firm with over 40 years of combined experience, and now has two (two) manufacturing facilities in Vizag and Bengaluru.

The company currently employs over 100 employees, including 15 scientists, to support its R&D pipeline, and it is projected to double the workforce count by the end of this year.Ascent Capital is a leading India-focused Independent Private Equity Fund Manager.Ascent's board of directors includes long-term institutional investors, such as pension funds, foundations, endowments, fund of funds, and major corporations, who have contributed USD 10-30 million in fast-growing companies, led by outstanding entrepreneurs, that have the capability to emerge as leaders in their sector, resulting in memorable exit outcomes.

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