Anthem Biosciences, an India-based CDMO, submitted a filing (PDF) at the end of 2024 to announce its plans for a 33.95 billion rupee ($397 million) public offering.
The company, which was founded in 2007, looks to speed discovery in the pharma and biotech sectors and offers a variety of services such as organic synthesis, process development, analytical chemistry, discovery biology and regulatory compliance.
In its filing (also known as a draft red herring prospectus) the company didn’t disclose the total amount of shares it may offer nor other details. The lead underwriters for the offering are JM Financial, Citigroup Global Markets India, J.P. Morgan India and Nomura. Anthem's investors include the private equity firm True North and the pharma services provider DavosPharma.
The shares are expected to be traded on the BSE (formerly the Bombay Stock Exchange) and the National Stock Exchange of India.
As of Anthem's most recent annual report, the company employed more than 1,500 people. The company's track record spans thousands of projects with some 500 partners, according to the report.
After opening sites in Bommasandra in 2007 and Harohalli in 2016, the company is in the process of starting up work at its third facility, also in Harohalli. Anthem's ongoing expansion efforts are slated to bring its total annual custom synthesis capacity to 425 kL and its fermentation capacity to 182 kL, according to the annual report.
In addition, the company has acquired land in Harohalli and Hosur for future expansions.