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Pandorum Technologies Bags $11 Mn Pre-Series B Funding

Written by : Aishwarya Sarthe

March 18, 2024

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The investment aims to propel the company towards the clinical phase of its flagship product, Kuragenx, designed to treat corneal blindness. 

Bengaluru-based biotechnology company, Pandorum Technologies has concluded a pre-Series B funding round, securing an investment of $11 million (INR 88 Cr). 

Founded by Arun Chandru & Dr Tuhin Bhowmick, Pandorum specializes in tissue engineering and regenerative medicine. 

The infusion of fresh funds will be utilized to advance Pandorum’s technology platform for liver, lung, and neuronal tissue regeneration. 

The investment aims to propel the company towards the clinical phase of its flagship product, Kuragenx, designed to treat corneal blindness. 

Sharing insights, Dr Tuhin Bhowmick, cofounder & CEO of Pandorum Technologies, said, "Our flagship product Kuragenx combines proprietary biomaterials with regenerative nanotherapy, guiding the formation of functional corneal tissue to restore vision. This First-in-Class approach can truly blur the line between treatment and cure.”

The series was led by Ashish Kacholia, Everest Finance Investment, Acebright Pharma, and Bandana Kankani's syndicate, alongside existing investors Sunil Kant Munjal and the Indian Angel Network.

Addressing a Global Need 

Corneal opacity remains a significant cause of blindness worldwide, with millions awaiting donor tissues. 

Pandorum's Kuragenx aims to promote scarless corneal tissue regeneration, offering hope to patients suffering from various forms of Corneal blindness. The product has already garnered recognition, receiving Orphan Drug Designation by the USFDA for treating Neurotrophic Keratitis.

Currently, Pandorum is engaged in clinical manufacturing processes and IND-enabling studies for Kuragenx, targeting the first patient dosing in 2025. The company aims to diligently navigate regulatory approvals to bring innovative therapies to those in need.

Sharing thoughts, Arun Chandru, cofounder & director, Pandorum Technologies, said, "Giving back vision with something made in the lab, without depending on donor corneas, is truly transformative. Kudos to our team at Pandarum."

With R&D facilities in Bangalore, India, and the Bay Area, San Francisco, USA, Pandorum collaborates with global partners to drive innovation in regenerative medicine. 

The company received support from various quarters, including competitive grants from the Government of India and investments from renowned investors and venture capitalists.

Increasing Investment Deals in the Healthtech Sector

In parallel, the healthtech sector is witnessing heightened investor traction, with startups securing significant funding for innovative solutions. 

For instance, Bengaluru-based healthtech startup secured an additional $5 million (approximately INR 41 Cr) in its extended Series A funding round, with B Capital leading the investment.
Zeno Health recently raised $25 million in its Series C funding round, while CureBay raised INR 62 Cr in its Series A1 funding round. Similarly, Cardiotrack, a healthcare screening technology provider, secured $2 million in Pre-Series A funding to expand its healthcare screening solutions.

Furthermore,  Neodocs, a healthtech startup founded in 2020, recently received funding to accelerate its expansion plans and scale up its innovative healthcare solutions. 

The recent infusion of funds seeks to support Neodocs in scaling its existing offerings and expanding into international markets, including Europe, Australia, the Middle East, the Philippines, and the Americas.

Likewise, Aarogya Tech, a US-based healthtech startup operating out of Bengaluru, secured seed funding to further its mission of revolutionizing the healthcare landscape.

The startup aims to shift the center of care from hospitals to homes through its accessible and intelligent health companion, driving innovation in the healthcare industry.


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