Immuneel Therapeutics, an India-based biotech startup focused on cancer treatment, has raised US$15 million in a series A financing round led by Eight Roads Ventures, True North Fund VI LLP, and F-Prime Capital.
Immuneel facilities / Photo credit: Eight Roads
Founded in 2019, the startup aims to develop affordable programs for cell and gene therapy for cancer patients in India.
Alongside the funding, Immuneel revealed it has started second phase trials for its Chimeric Antigen Receptor T cell therapy (CAR-T), a form of immunotherapy used to manage and treat cancers. Previously unavailable in India, Immuneel said CAR-T treatment has shown “promising results” for patients who have exhausted other treatment options for several forms of blood cancer.
The fresh funds will be used for the company’s tech development pipeline and to improve the scale of its operations. Other unnamed investors also joined the latest funding round.
The company aims to provide patients in India affordable access to cancer therapy, says Immuneel Co-founder Kush M. Parmar.
“This financing will also allow us to continue building a committed and quality enterprise for global innovators to consider partnering with us to enable access for patients in the region,” he added.
See also: Series SEA: Who’s investing in the region’s biotech startups?
Editing by Deepti Sri and Arpit Nayak
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