Healthtech Startup Avammune Therapeutics Raises $12 Mn in Series A
The fresh capital will be utilised to strengthen Avammune’s intellectual property portfolio.
Healthtech startup Avammune Therapeutics has secured $12 million (INR 100 Cr) in a Series A funding round.
The round was co-led by Capital 2B, Shastra VC, and Kotak Alternate Asset Managers’ Life Sciences Fund I.
IvyCap Ventures, 1Crowd, and other investors also participated.
The fresh capital will be utilized to strengthen Avammune’s intellectual property portfolio and advance the clinical development of its lead candidate AVA-NP-695, an ENPP1 inhibitor, while also supporting preclinical development of other pipeline molecules.
Founded in 2020 by Arun B Papaiah, Srinivasan Namala, and Aditya Kulkarni, Avammune is focused on developing small-molecule therapies that modulate the immune system to treat cancer and autoimmune diseases.
“This funding validates our extensive preclinical datasets and empowers us to accelerate the development of our lead program into the clinic to address critical unmet needs in oncology,” said co-founder Papaiah.
The company claims its lead asset, AVA-NP-695, has demonstrated potent anti-tumor effects in preclinical models of osteosarcoma, Ewing’s sarcoma, and breast cancer.
Kulkarni, the company’s Chief Scientific Officer, added that the drug’s strong activity in veterinary cancers under compassionate use programs further underscores its differentiated profile.
In another development last year, biotech startup Ahammune Biosciences raised $5 Mn (INR 41 Cr) in Series A funding led by pi Ventures to advance its vitiligo treatment candidate into Phase 2 clinical trials.
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