Three years from establishment Stramsen Biotech, Inc, one of the leading plant-based biotech start-up companies, is raising $10 million at a $807 million valuation according to a third-party valuation company based in Los Angeles, California – Stonebridge Advisory. Stramsen Biotech team believes that other valuation methods or models may show the company’s value at around $5 billion. Currently officially valued at $807 million, Stramsen Biotech is now one of the world’s largest Biotech Start-ups based on the company’s pipeline.
The Global Herbal Medicine Market size reached USD 185.86 billion in 2020. The market valuation is set to rise from USD 203.03 billion in 2021 to USD 430.05 billion in 2028 at a CAGR of 11.32% during the projected period. The market growth and rising product demand are attributable to increasing health consciousness among consumers. Individuals are not only consuming healthier foods but also switching to cosmetics and personal care products with natural ingredients. These factors are responsible for the rise of the herbal medicines market worldwide. Fortune Business Insights presents this information in its report titled “Herbal Medicine Market, 2021-2028”.
Stramsen’s drug candidates are plant-based medicines, and they are also classified as both herbal medicines and therapeutics. Therapeutics or pharmaceutical industry has about $1.5 trillion market size. The combined herbal medicine and general therapeutics market size for all products is $1.7 trillion.
Stramsen Biotech’s goal is to capture between 1% and 5% of the $1.7 trillion market size within the next five to ten years. The company’s annual gross revenue is expected to be between $17 billion and $85 billion in the next 5 to ten years.
Stramsen’s Ph.D. level scientists have combined medicine research experience of more than 80 years. They have access to over 8,000 databases of medicinal plants. Due to rising resistance and safety concerns to some synthetic drugs, people around the world are increasingly turning to natural plant-based drugs / medicines for their healthcare needs. Currently about 40% of all medicines that are prescribed to all patients in the world are derived from medicinal plants.
Stramsen Biotech, Inc will donate a total of 100,000 shares of company’s common stocks to any eligible non-profit organizations that work with disabled military veterans in the US, children who live in poverty in developing countries or to refugee camps overseas and select individual veterans.
