Etana Equity

pending

 IFC’s proposed investment is an equity investment of up to US$30m equivalent in PT Etana Biotechnologies Indonesia (“Etana” or the “Company”) https://www.id.etanabiotech.com/news, an emerging Indonesian biopharmaceutical company with product range in the areas of oncology, nephrology, metabolic and infectious diseases. Etana production facility is located in Kawasan Industry Pulogadung, Cakung, East Jakarta. The Company currently has more than forty registered products and plans to roll out multiple products and scale up its operations. The company’s expansion plan prioritizes fully utilizing the existing drug substance production facility by installing additional production and quality control equipment and building a new warehouse. Subsequently, the Company will build another Drug Substance production facility on the existing site. At the time of IFC appraisal, the establishment of additional drug substance facilities is still at concept stage, with construction works expected to commence in 2026.