Kashiv BioSciences secures Rs 648 Cr financing from UBI to expand manufacturing facilities in Gujarat

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Kashiv BioSciences, a biopharmaceutical company, has secured financing of Rs 648 crore from the Union Bank of India (UBI). 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.

“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.”