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Avammune Therapeutics raises $12 Mn in Series A funding round

EntrackrEntrackr · 1m ago
Avammune Therapeutics raises $12 Mn in Series A funding round
Medial

Avammune Therapeutics and its subsidiary, Avammune Lifesciences, have secured $12 million (around Rs 100 crore) in a Series A financing round co-led by Capital 2B, Shastra VC, and Kotak Lifesciences Fund I, a fund managed by Kotak Alternate Asset Managers, with participation from IvyCap Ventures alongside existing investor 1Crowd. The proceeds will be utilized to accelerate its proprietary pipeline, which targets the innate immune system, to develop orally bioavailable small molecules and support the clinical development of lead candidate AVA-NP-695 (an ENPP1 inhibitor), Avammune Therapeutics said in a press release. Co-founded in 2020 by Arun B. Papaiah, Srinivasan Namala, and Aditya Kulkarni, Avammune Therapeutics is a biopharmaceutical company discovering small molecule medicines that target the innate immune system for the treatment of cancer and autoimmune disorders. Its pipeline targets Osteosarcoma, Ewing’s Sarcoma, Triple-Negative Breast Cancer, GI cancers, and autoimmune disorders. According to Avammune, its lead asset is an ENPP1 inhibitor that has demonstrated strong anti-tumor efficacy in several preclinical models of cancer and also in veterinary cancer patients in “compassionate use” settings. AVA-ADR is a potential first-in-class ADAR1 p150 inhibitor and one of the only ADAR1 inhibitors in the landscape to demonstrate in vivo efficacy. According to market research, the global immuno-oncology market is about $100 billion and is rapidly growing at a CAGR of 17%.

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Avammune Therapeutics raises $12 Mn in Series A round

EntrackrEntrackr · 1m ago
Avammune Therapeutics raises $12 Mn in Series A round
Medial

Avammune Therapeutics and its subsidiary, Avammune Lifesciences, have secured $12 million in a Series A financing round co-led by Capital 2B, Shastra VC, and Kotak Lifesciences Fund I. The proceeds will be utilized to accelerate its proprietary pipeline, which targets the innate immune system, to develop orally bioavailable small molecules and support the clinical development of lead candidate AVA-NP-695 (an ENPP1 inhibitor). Co-founded in 2020 by Arun B. Papaiah, Srinivasan Namala, and Aditya Kulkarni, Avammune Therapeutics is a biopharmaceutical company discovering small molecule medicines that target the innate immune system for the treatment of cancer and autoimmune disorders. Its pipeline targets Osteosarcoma, Ewing’s Sarcoma, Triple-Negative Breast Cancer, GI cancers, and autoimmune disorders.

Exclusive: Kiran Mazumdar Shaw’s Immuneel Therapeutics raises Rs 100 Cr

EntrackrEntrackr · 11m ago
Exclusive: Kiran Mazumdar Shaw’s Immuneel Therapeutics raises Rs 100 Cr
Medial

Cancer focused biotech startup Immuneel Therapeutics has raised Rs 100 crore or $12 million in the extension of Series A round from Taiba Middle East FZ LLC. This is the third round of investment for the Bengaluru-based company since its inception in 2018. The board at Immuneel Therapeutic has passed a special resolution to issue 1o equity shares and 8,164 Series A1 CCPS at an issue price of Rs 1,22,330 each to raise Rs 100 crore or $12 million, its regulatory filing accessed from the Registrar of Companies show. The company will use these investments for growth and expansion as decided by the board, the filings further added. As per TheKredible’s estimates, the firm has been valued at around Rs 587 crore or $71 million (post-allotment). Following the fresh proceeds, Taiba Middle East FZ holds a 17% stake in Immuneel Therapeutics. The round appears to be ongoing and it may raise more funds. The company has raised around $40 million to date including its $15 million Series A financing co-led by Eight Roads Ventures, True North, and F-Prime Capital in 2022. Founded by Biocon founder Kiran Mazumdar Shaw, oncologist and Pulitzer winner — Siddhartha Mukherjee and Kush Parwar, Immuneel Therapeutics is an Indian clinical-stage startup which is engaged in developing cell and gene therapies for cancer patients. It’s also working on developing its own pipeline of chimeric antigen receptor T-cell (CAR-T) therapies and other cellular immunotherapies for management and treatment of cancer. The firm claims to offer therapies at one-third of the costs borne for gene therapies in America. While the company is yet to file its annual statements for FY24, six-year-old Immuneel Therapeutics remained at a pre-revenue stage in FY23. Its losses stood at Rs 39 crore in the fiscal year ending March 2023.

Ice cream brand Go Zero raises $1.5 Mn

EntrackrEntrackr · 1y ago
Ice cream brand Go Zero raises $1.5 Mn
Medial

Ice cream brand Go Zero has raised $1.5 million in its follow-on pre-Series A funding round from DSG Consumer Partners, Saama, and V3 Ventures, among others. The round also saw participation from notable angel investors such as Arjun Purkayastha. Earlier in August last year, the startup had raised $1 million in its pre-Series A funding round led by DSG Consumer Partners, Saama, and V3 Ventures. Founded by Kiran Shah, Go Zero has a diversified product portfolio featuring low-calorie, high-protein, and vegan ice creams. The startup claims that all its products are sweetened with plant-based sweeteners, which are low in calories. Currently present in 16 cities and over 125 dark stores, Go Zero ice cream brand is available on both quick commerce and e-commerce platforms in less than two years of launch. In FY24, Go Zero claims to have grown 4X compared to FY23 and while it saw 7X growth on quick commerce in just 5 months this summer. Go Zero competes with Hocco and NIC. Last year, NIC had raised $11 million in a growth funding round led by Jungle Ventures whereas Hocco recently raised $12 million from Chona family and others.

Beyond Snack raises $8.3 Mn in Series A round

EntrackrEntrackr · 5m ago
Beyond Snack raises $8.3 Mn in Series A round
Medial

Kerala-based banana chips brand Beyond Snack has raised $8.3 million in its Series A funding round led by 12 Flags Group, a consumer business-focused fund established by Rakesh Kapoor, the former global CEO of Reckitt Benckiser. Existing investor NAB Ventures also participated in this round, increasing its stake in the company. Japanese VC firm Enrission India Capital and other existing investors, including Faad Network, also joined. Earlier in July 2023, the brand had raised $3.5 million in a pre-Series A round from the NABVENTURES Fund. The proceeds will be used to drive Beyond Snack’s expansion into new territories, add product innovation, and strengthen its supply chain infrastructure. Founded by Manas Madhu, Jyoti Rajguru, and Gautam Raghuraman, Beyond Snack is a plant-based savory snacks brand that produces its banana chips with no artificial colors or flavors. Beyond Snack claims to have expanded its global footprint. Currently available in 12 countries, the brand is exploring new international markets, where it has seen strong demand for its products.

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