Retired At 47: Mr. Raghvendra’s Journey From Professional Life To Start-up Investing

About Mr. Raghvendra Goud

Mr. Raghvendra Goud, Co-Founder of PharmNXT Biotech, a dynamic leader in the biotech and pharmaceutical sectors, has a strong background in engineering and business management. Leveraging his experience and expertise in the pharmaceutical industry, he drives 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.

Pharma Now: Welcome, Mr. Raghvendra Goud, to Pharma Now. I was going through your profile and LinkedIn, and I realised you wear so many hats. Most impressively: you are already retired at 47! So, my first question is: Why 47? What inspired you to make this decision? Could you give a quick overview of your career? How did you start, and how did you reach this point?

Mr. Raghvendra: First of all, my sincere thanks for giving me an opportunity to speak to Pharma Now. You're doing an amazing job bringing so many 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 that it was the right time for me to retire. I started my career very early. After completing my research at the IAC, I joined 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 HealthCare, the world's leading medical technology company, and we became part of GE HealthCare. I continued working in sales, eventually becoming a regional manager. I realised that being a domain expert and staying updated with the latest technologies, as well as 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, India, 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.

Pharma Now: Thank you for the comprehensive overview. Speaking of single-use bags, there is a lot of debate on the use of single-use products and technology. Interestingly, these seem to be PharmNXT’s main product line. Can you tell us more about single-use products and technology?

Mr. Raghvendra: 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 labour. This shift has been significant in the biopharma industry, and at PharmNXT, we specialise in manufacturing single-use bags, assemblies, and related products.

Pharma Now: These are certainly great benefits for companies, especially from an environmental point of view. However, companies need to commit to environmental, sustainable, and governmental (ESG) goals. So, how do PharmNXT's products help companies achieve these goals?

Mr. Raghvendra: 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.

Pharma Now: I understand. I am sure this will significantly decrease the environmental impact of manufacturing, and of course, this is the unique impact of your company. So, what are PharmNXT’s plans for the next five years?

Mr. Raghvendra: We aim to become a global multinational supporting biopharma companies in the US, Europe, the Middle East, Southeast Asia, and China. We are proud to be the fastest-growing multinational company based in India and have already exported our products to 12 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.

Pharma Now: PharmNXT seems to be on an exciting and somewhat challenging path. But, if your success so far is any indication, I am sure you will be able to achieve these goals with ease. What’s next for PharmNXT in terms of product development?

Mr. Raghvendra: 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.

Pharma Now: It seems like we have a lot of things to look forward to. I wish you all the best with these goals, and thank you for sharing all this with us. It’s been amazing talking to you. We look forward to seeing PharmNXT grow and thrive.

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