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Kashiv BioSciences Secures INR 648 Crore Financing from Union Bank of India to Expand Manufacturing Facilities in Gujarat, India

By Business Wire India

Business Wire India

  • The INR 648 crore facility will drive investment in state-of-the-art biologics manufacturing facility in Pipan, Gujarat
  • The facility will enhance technical capabilities, improve global competitiveness, and create long-term, high-value employment across scientific, technical, and operational disciplines

 

Kashiv BioSciences Private Limited (“Kashiv”), a biopharmaceutical company, today announced that it has secured financing of INR 648 crore from the Union Bank of India. The proceeds will be used to expand its state-of-the-art manufacturing facility in Pipan, near Ahmedabad, Gujarat.

 

The new single-use commercial manufacturing facility will be one of India’s largest, equipped with cutting-edge technologies to support the production of high-quality biologics and specialty pharmaceuticals. At full capacity, Kashiv expects the facility to manufacture up to 50,000L. This milestone represents a major step forward in Kashiv’s mission to expand its global footprint and strengthen its position in India as a leading center for advanced biopharmaceutical manufacturing.

 

Serving customers across the U.S., Canada, Europe, and other international markets, the facility will further reinforce India’s role as the “pharmacy of the world” by enhancing technical capabilities, improving global competitiveness, and creating long-term, high-value employment across scientific, technical, and operational disciplines.

 

“This funding marks a pivotal milestone in Kashiv’s journey to expand biomanufacturing capacity in India,” said Dr. Sandeep Athalye, Global CEO of Kashiv BioSciences. “The new facility in Pipan will not only accelerate innovation and access to high-quality biologics but also reinforce our commitment to building world-class infrastructure that supports global healthcare needs. This infrastructure is being financed with the support of the Union Bank of India and is in alignment with the Biotechnology Policy and schemes implemented by GSBTM (Gujarat State Biotechnology Mission), a body of the state government, which continues to catalyze investment in advanced biopharmaceutical manufacturing.”

 

Shri Digvijaysinh D. Jadeja, IAS, Mission Director (MD) of the GSBTM said, “Kashiv’s expansion in Pipan exemplifies Gujarat’s commitment to fostering innovation-led growth in biotechnology. Through the Biotechnology Policy, we continue to support high-impact investments that elevate India’s scientific capabilities and create meaningful employment across the value chain.”

 

“Union Bank is proud to have partnered with Kashiv as the lender on this initiative. This will advance India’s manufacturing capabilities and create sustainable economic value for the region, supporting the nation in achieving its goal of ‘Viksit and Atmanirbhar Bharat’. We wish the Company great success in this endeavor,” said a senior representative from the Union Bank of India.

 

About Kashiv BioSciences:

 

Kashiv BioSciences Private Limited, a fully owned subsidiary of Kashiv BioSciences, LLC is a biopharmaceutical company with numerous commercial and advanced clinical-stage assets and is among the few companies to both manufacture and receive marketing authorization for multiple biosimilars. Kashiv BioSciences, LLC in the USA, and its subsidiaries in India (together “Kashiv BioSciences”) operate together with robust infrastructure and highly skilled teams that provide global R&D, clinical, manufacturing, regulatory, and IP capabilities. We believe our people, partners, and shared purpose fuel our work to advance patient care and access to important medicines.

 

For more information, please visit www.kashivbiosciences.com and follow us on LinkedIn.

 

 

 

 

 


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