Aragen snares $100M investment from Quadria Capital to expand its operations

Contract research, manufacturing and development firm Aragen has hauled in a $100 million investment from private equity group Quadria Capital. 

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India-based Aragen plans to use the funds to expand its infrastructure and global operations.

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Under the terms of the investment, Quadria gets a minority stake in the biopharma service provider, which is now valued at $1.4 billion. Quadria joins Goldman Sachs as a strategic investor in Aragen.

The investment will help the company meet a growing demand for outsourced drug manufacturing services in the U.S. and Europe, Aragen said in a Jan. 13 press release.

“This investment marks a pivotal moment as we scale to meet the needs of a rapidly evolving market,” Manni Kantipudi, Aragen’s chief executive, said in the release. “Our expanded capabilities will allow us to support the rising demand for integrated discovery and manufacturing services.”

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Aragen’s roster of more than 400 clients worldwide includes 15 of the top 20 pharmaceutical companies, the company said.

In the fall of 2023, the drugmaker pumped $30 million into its Bengaluru factory to support its “rapidly expanding” biologics operation. At the time, the company forecast the first manufacturing suite at the site would start production in the third quarter of this year.

Aragen has three manufacturing facilities in India, two in the U.S. and one in the Netherlands.