Kashiv BioSciences Obtains $150 Million in Debt Financing from GoldenTree Asset Management
Kashiv BioSciences, LLC (“Kashiv” or “the Company”), a fully integrated and innovation-driven biopharmaceutical company, announced today the successful execution of a senior secured credit agreement with GoldenTree Asset Management (“GoldenTree”), a prominent global asset management firm. The financing arrangement, valued at $150 million, will provide Kashiv with significant capital resources to support its expanding operations across research, development, and manufacturing, as well as to strengthen its working capital and fund other strategic business initiatives.
The credit facility represents a significant milestone in Kashiv’s ongoing evolution as a next-generation biopharmaceutical leader, with a strong focus on biosimilars and complex generics. It will enable the Company to enhance its capabilities in both the United States and India, supporting the acceleration of its global strategy in drug development and advanced biologics manufacturing.
Supporting Global Infrastructure for Biologic Innovation
A core element of this financing will be allocated toward the expansion of Kashiv’s cutting-edge biomanufacturing infrastructure. The Company is currently scaling operations at its state-of-the-art facilities in Piscataway, New Jersey, and Pipan, Gujarat, India. These facilities are pivotal to Kashiv’s end-to-end development and production of monoclonal antibody (mAb) therapies, which are crucial to treating a range of diseases, including cancer, autoimmune disorders, and chronic inflammatory conditions.
Kashiv’s Piscataway facility is being upgraded to accommodate a biomanufacturing capacity of 8,500 liters. This U.S.-based site serves as a critical hub for the Company’s North American operations, offering proximity to regulatory agencies, healthcare partners, and clients. Meanwhile, the Pipan facility is undergoing a major expansion that will ultimately bring its total bioproduction capacity to 37,000 liters. Once completed, the Pipan facility will be among the largest single-use commercial mAb manufacturing sites in India, positioning Kashiv as a key contract development and manufacturing organization (CDMO) partner for both emerging biotech firms and established pharmaceutical companies worldwide.
The advanced design of the Pipan site integrates the latest in single-use bioreactor technology, supporting faster production cycles, enhanced sterility, and more sustainable operations. This makes it particularly attractive to global biopharma clients seeking flexible, scalable, and cost-effective manufacturing solutions.
Fueling Innovation Through Research and Development
Beyond infrastructure, the credit facility will also provide essential funding for Kashiv’s growing pipeline of biosimilar candidates and complex generics. The Company has been actively developing a portfolio of biosimilars targeting major therapeutic areas, including oncology, immunology, and ophthalmology. These therapeutics are intended to offer high-quality, more affordable alternatives to originator biologics, many of which face impending patent expirations.
“With this new capital infusion, we are well-positioned to drive forward multiple biosimilar programs through clinical development and regulatory submission,” said Dr. Sandeep Athalye, Global Chief Executive Officer of Kashiv BioSciences. “This financing arrives at a pivotal moment for the Company, as we deepen our investments in manufacturing scale-up, clinical development, and regulatory engagement.”
Kashiv’s R&D teams in both the U.S. and India work collaboratively across biologics, formulation science, and analytical development. The Company has established a track record of scientific innovation, evidenced by its prior FDA approvals and strategic partnerships with leading pharmaceutical companies. With its fully integrated capabilities Kashiv BioSciences spanning early-stage development through commercial manufacturing, Kashiv aims to streamline the development timelines for its own assets as well as those of its partners.
Strategic Financial Partnership with GoldenTree
GoldenTree Asset Management, known for its experience in providing tailored credit solutions to healthcare and life sciences companies, served as the sole lender on the transaction. The firm brings a deep understanding of the operational and financial needs of high-growth biopharmaceutical businesses.
“We are excited to be working with experienced healthcare investors who share our confidence in the Kashiv BioSciences ’s long-term potential,” noted Dr. Athalye. “The favorable structure of this debt facility allows Kashiv to pursue our global manufacturing strategy while maintaining the flexibility to meet near-term milestones and invest in strategic growth opportunities.”
This collaboration marks the beginning of what is expected to be a long-term strategic relationship between Kashiv and GoldenTree, potentially enabling additional financing options in the future should the Company pursue further expansion or acquisitions.
Transaction Advisory and Legal Support
The credit agreement was executed with the support of leading global advisory and legal firms. J.P. Morgan acted as the structuring agent on the transaction, bringing its deep expertise in healthcare finance to structure a facility tailored to Kashiv’s growth needs.
Legal counsel for the transaction included Milbank LLP, which represented GoldenTree, and K&L Gates LLP, which served as legal advisor to Kashiv BioSciences. The coordinated efforts of these advisors ensured the transaction was executed efficiently, with provisions aligned to support Kashiv’s operational goals and financial requirements.
A Vision for the Future of Global Biologics Manufacturing
Kashiv BioSciences is uniquely positioned to play a significant role in the future of global biologics manufacturing and biosimilar development. The Company’s dual geographic presence in the U.S. and India enables it to harness top-tier scientific talent, world-class manufacturing capabilities, and cost-effective scalability. Its commitment to quality, regulatory compliance, and innovation has positioned it as a trusted partner in the global healthcare ecosystem.
The expansion of its biomanufacturing facilities and advancement of its R&D programs signal Kashiv’s readiness to serve a growing global demand for high-quality biologic therapies. The $150 million credit facility serves as a vote of confidence in the Kashiv BioSciences Company’s vision and capacity to deliver on its mission of providing affordable, accessible, and effective treatments to patients worldwide.
As Kashiv BioSciences continues to grow, the Company remains committed to maintaining the highest standards of scientific excellence, operational integrity, and patient-centered innovation. With the support of forward-looking financial partners like GoldenTree, Kashiv BioSciences is poised to accelerate its impact on global health in the years to come.
