VC Fund Investments
Oncology-focused Avammune Therapeutics raises $12-M
Bengaluru- and Philadelphia, PA (USA)-based drug discovery company Avammune Therapeutics has raised USD 12 million (INR 100 crore) in a Series A round led by Capital 2B, Shastra VC, and Kotak Life Sciences Fund. The round also saw participation from IvyCap Ventures and 1Crowd.The fresh funds will be used by the company for accelerating its proprietary drug pipeline and clinical advancement of the firm’s lead candidate AVA-NP-695, an ENPP1 inhibitor.Co-Founded by Arun B. Papaiah, Srinivasan Namala, and Aditya Kulkarni in 2020, Avammune is a small molecule drug discovery and development company, which develops modulators of the innate immune system. The company aims to identify novel targets and a proprietary pipeline small-molecule drug for potential use in oncology.
In Jul-22, Avammune had attracted funding from Chennai Angels.
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