Ahmmue Biosciences is a Bio-tech startup that raised 5 million USD in its ongoing series A funding round led by Pi Ventures. The funding round saw the participation of several investors including Colossa Ventures, Capital2B, Unicornus Maxiums LLP, and Bipin Agarwal. The existing investors Kotk Alternate Assets, Ideaspring Capital, Legacy Assets LLP, and IAN also participated in this round. The startup plans to use these fresh proceeds to fuel its business growth, enhance its research & development, and expand its patent portfolio.
The company mainly aims to conduct phase II human clinical trials for drug candidates for Vitiligo using this investment. Ahmmune Bioscience is a clinical-stage therapeutics company that develops molecule-based therapeutics to cure skin diseases. The startup is currently working on a drug to treat the depigmentation disorder Vitiligo.
This drug will induce the repigmentation of depigmented patches. The company has raised around 8.02 million USD across five funding rounds since its inception, including the $1.82 million secured from Ideaspring Capital in its seed funding round. The company faces competition from other biotech startups in the same market segment such as Revance Therapeutics, Hugel, and Cosmica Bioscience.
The company is focused on developing new drug candidates for Vitiligo. The firm claims that this molecule drug candidate has a first-in-class mechanism of action that can stop the patch from spreading while inducing repigmentation. The company is also developing a pipeline of patented molecules to treat autoimmune and dermatological diseases. The startup offers advanced biotech solutions for skin diseases while improving efficiency. The company intends to provide affordable and advanced solutions to improve biotechnology. The company wants to transform the biotechnology industry across India.
Ahammune Bioscience plans to use some of its investment to advance immune-mediated skin disease research and enhance its technologies. The development came just after the biotech sector saw increased interest from investors globally. The startup intends to expand its patent portfolio around proprietary technology to focus on treating skin conditions by targeting key cellular processes influencing skin health. Entrackr reported. According to market research, this cell culture market is expected to increase and reach 33 billion USD in the next six years. The company is also looking for partnerships with other pharmaceutical companies to co-develop the asset and maximize the commercial value with increased customer reach.
Conclusion :
Pune-based biotech startup, Ahammune Biosciences secured $5 million from Pi Ventures in its series A funding round. The funding round saw the participation of various new and existing investors including Capital2B, Bipin Aggarwal, Ideaspring Capital, Kotak Alternate Assets, and others. The company intends to use this fresh capital to advance its R&D, scale its operations, enhance its platforms, and expand its services in India.
The startup is developing a drug to stimulate the function of color-producing cells in the skin and induce repigmentation. The company aims to use some of this investment to conduct phase II human clinical trials for the drug made for Vitiligo. The investment shows investor’s trust in Ahammune Bioscience’s business model and market potential.
0 Comments