Retired at 47: Mr. Raghavendra’s Journey in Developing his Interest into Investing in Startups

Mr. Raghavendra Goud, Co-Founder of PharmNXT Biotech, is a dynamic leader in the biotech and pharmaceutical sectors. With a strong background in engineering and business management, he specializes in driving innovation in bioprocess technology and equipment manufacturing. At PharmNXT Biotech, he focuses on developing cutting-edge solutions for biopharma production, from process development to scale-up. Mr. Goud's entrepreneurial spirit and technical expertise have been instrumental in positioning PharmNXT as a trusted partner for advancing biopharmaceutical manufacturing and enhancing operational efficiencies.

Mr. Ravindra: Mr. Goud, welcome to Pharma Now. I was actually going through your profile and LinkedIn. You wear so many hats right now, but I was very surprised to see that you are already retired at 47!! So my first question would be: Why 47? What inspired you to make this decision? Could you give a quick overview of your career, how you started, and how you reached this point?

Mr. Raghavendra: Yeah, thank you, Ravi. First of all, my sincere thanks for giving me an opportunity to speak to Pharma Now. You're doing an amazing job bringing a lot of startups into the limelight.

To answer your question, there were multiple reasons for my early retirement. My philosophy in life is clear: we only live once. Whatever you want to do, you have to do it in this one life. With that in mind, and other factors, I felt it was the right time for me to retire. I started my career very early. After my research at IAC, I joined a company called Promega, a US-based company, as an application person. Then, in 1999, I joined Amersham Pharmaceutical Biotech, focusing on products and the science side of things, transitioning into sales and climbing the corporate ladder.

In 2004, Amersham was acquired by GE, the world's largest company, and we became part of GE Healthcare. I continued in sales, eventually becoming a regional manager. I realized that being a domain expert and staying updated with the latest technologies, combined with my corporate experience, gave me the traits necessary for senior leadership roles. So, I pursued an executive management program from IIM Calcutta. This accelerated my career significantly.

My bosses believed in my technical expertise, commercial acumen, and corporate understanding, and I was selected for leadership training at GE’s Crotonville university. After that, I aimed for top leadership roles. I worked on developing myself further, gaining exposure to finance, understanding customer needs at a senior leadership level, and engaging deeply with the biomanufacturing industry. This led to my role as the country leader for GE Healthcare Life Sciences in India.

One of the most satisfying achievements was helping companies produce 2 billion doses of COVID-19 vaccines. This recognition placed me among the top 25 influencers in the life sciences space.

My interest in startups began about 10 or 11 years ago, leading to my first investment in Onconova Therapeutics, a US-based drug discovery company. Although one drug didn't become a blockbuster, it piqued my interest in startups. My next investment was in ATGC Biotech, an agri-company focusing on pheromones for biopesticides.

Eventually, I decided to transition from the corporate world to the startup space full-time. My colleagues from GE, who became close friends, started FarmText in 2017. We set up our own manufacturing unit in Pune, providing single-use support to biomanufacturing companies. Our facility has been audited by multinationals and is recognized for its world-class quality.

Our Pune facility, a 20,000 square foot clean room, makes single-use bags, assemblies, and complex systems like inline conditioning systems. Our engineering team has been recognized for their precision, accuracy, and control.

We've exported our products to 12 different countries, including the US. This success inspired me to retire early from corporate life and focus on giving back by supporting and creating startups.

Mr. Ravindra: I wanted to dive deeper into PharmNXT. There’s a lot of buzz around single-use products and technology, and it seems to be PharmNXT’s main product line. Can you tell us more about single-use products and technology?

Mr. Raghavendra: Single-use products are used only once. In biopharma, the traditional method involved stainless steel, which required extensive cleaning with water and chemicals, raising concerns about cleanliness and wastage. Single-use solutions eliminate these issues, offering flexibility, cost savings, and environmental benefits.

Companies can now use the same facility for multiple products, increasing ROI and reducing the need for dedicated spaces. Single-use systems save about 87% of water and 27% of labor. This shift has been significant in the biopharma industry, and at PharmNXT, we specialize in manufacturing single-use bags, assemblies, and related products.

Mr. Ravindra: Considering ESG goals and sustainability, how does PharmNXT's product contribute to these goals?

Mr. Raghavendra: Absolutely. Our products contribute significantly to sustainability goals. By using single-use products, companies reduce water wastage and chemical use, supporting their ESG goals and helping manage ecosystems through sustainable solutions.

Mr. Ravindra: What are PharmNXT’s plans for the next five years?

Mr. Raghavendra: We aim to become a global multinational supporting biopharma companies in the US, Europe, the Middle East, Southeast Asia, and China. We take pride in being the fastest-growing multinational company based in India and have already exported our products to 12 different countries. We plan to expand our manufacturing capabilities from 20,000 to 40,000 and then 60,000 square feet.

Localization is a key focus, and we align with the government’s vision for self-sufficiency in biopharma. We aspire to be a preferred vendor for major global companies.

Mr. Ravindra: What’s next for PharmNXT in terms of product development?

Mr. Raghavendra: We continue to focus on single-use products, expanding into hardware solutions as well. Our development efforts include inline conditioning systems, chromatographies, and TFF. We aim to provide more automated and consolidated solutions to our clients.

Mr. Ravindra: Best of luck with that, and thanks a lot for sharing all this with us. It’s been amazing talking to you. We look forward to seeing PharmNXT grow and thrive.

Mr. Raghavendra: Thank you so much, Ravi. Thank you to Pharma Now for giving me this opportunity to talk about our founders, their passion, and their vision for PharmNXT.