PISCATAWAY, N.J.–(BUSINESS WIRE)–Kashiv BioSciences, LLC, a fully integrated biopharmaceutical company, has entered into a senior secured credit agreement with GoldenTree Asset Management, which acted as sole lender. The $150 million credit facility will support the company’s ongoing infrastructure expansion, research and development initiatives, and working capital needs.
Kashiv is expanding its state-of-the-art monoclonal antibody (MAB) drug substance manufacturing facilities in Piscataway, New Jersey (8,500L capacity) and Pipan, India (37,000L capacity). The new Pipan facility is positioned to become one of India’s largest single-use commercial manufacturing sites for monoclonal antibodies, serving customers across the U.S., Europe, and other global markets.
“The favorable structure of this debt facility will allow Kashiv to confidently expand its manufacturing capabilities in India and the U.S. and advance its pipeline of biosimilar candidates,” said Dr. Sandeep Athalye, Global CEO of Kashiv BioSciences.
J.P. Morgan served as the structuring agent on the transaction. Legal advisors included Milbank LLP for GoldenTree and K&L Gates for Kashiv BioSciences.
