Biological E. Limited, Alkem, NATCO and Kemwell Biopharma's promoters, Anurag and Karan Bagaria led the funding round
Eyestem, a Bengaluru-based cell therapy start-up, has raised $6.4 million in a Series A round led by Biological E. Limited, Alkem, NATCO and Anurag and Karan Bagaria, promoters of Kemwell Biopharma. PTI reported that existing investors Endiya Partners and Kotak Private Equity also participated in this round. The investors valued Eyestem at $46.4 million, as per a statement released by the company.
Jogin Desai, Founder and CEO of Eyestem, said, "Post this funding, we will remain focused on solidifying our cell therapy platform. We will move our flagship product for Dry Age-Related Macular Degeneration (Dry AMD) through early clinical trials of an international standard."
"Eyecyte-RPE, the company's patented flagship product, is an experimental treatment for Dry AMD. The company has other products in the pipeline for the treatment of incurable diseases affecting humanity," the statement added.
Founded in 2016 by a team of clinical research, regenerative medicine and ophthalmology experts, Eyestem has built collaborations with other players in related scientific disciplines in India, the UK, Japan, and the United States. Its long-term vision is to develop a scalable cell therapy platform to treat incurable diseases and democratise access to these newer technologies globally.
Existing investors like Elevation Capital, Matrix Partners, Whiteboard Capital, and GTM Ventures also participated in the financing round
Google and ICMG Partners also participated in the Series A funding round