Maiva Pharma announced on Thursday that it has secured Rs 1,000 crore in funding from Morgan Stanley Private Equity Asia and India Life Sciences Fund. The investment comprises both primary and secondary funding, according to the Bengaluru-based injectables contract development and manufacturing organization.

In this transaction, the two investors have acquired a controlling stake from existing shareholders and have also injected primary capital into the company, although the exact stakes acquired were not disclosed, stated an official release.

This marks Maiva's first private equity fundraising initiative, with the proceeds earmarked for establishing a new manufacturing facility near Karnataka's Hosur. The facility will specialize in sterile dosage forms, including pre-filled syringes, bags, oncology, and hormonal injectables.

Bhaskar Krishna, Managing Director and Chief Executive of Maiva, outlined that the funds will also be utilized to expand vial, lyophilization, and suspension capacity, and to introduce new manufacturing capabilities such as prefilled syringes, cartridges, and bags.

Nirav Mehta, Managing Director and Co-Head of Morgan Stanley PE Asia expressed confidence in Maiva's positioning within the injectables CDMO market, citing its potential for substantial growth.

Sumit Gupta, Managing Director of Invascent, which serves as the investment manager to India Life Sciences Fund IV, highlighted Maiva's strengths in complex injectables development and manufacturing, robust compliance and regulatory standards, transparency, and leadership, which set it apart from competitors.