Stelis Biopharma raises $195 mn for vaccination unit, contract business

Vaccine unit will manufacture up to 800 million doses of vaccines annually

Stelis Biopharma, an arm of Strides, has raised $195 million in Series B and Series C rounds at a valuation of $350 million.

The company will use the money to scale up its vaccine unit in Bengaluru to cater to multiple vaccine types including viral vector, protein subunit, RNA and DNA. The unit will manufacture up to 800 million doses of vaccines annually, including Covid-19 vaccines. The company will also use the money for its contract manufacturing business, including ramping up a process development lab, other technical capabilities and debt servicing.

The Series B round was led by the family