Avammune Therapeutics, a biopharmaceutical startup focusing on the innate immune system, has successfully raised $12 million (approximately Rs 100 crore) in a Series A financing round. The funding was co-led by Capital 2B, Shastra VC, and Kotak Lifesciences Fund I, with IvyCap Ventures and existing investor 1Crowd also participating in the round.
Innovative Pipeline Development
Founded in 2020 by Arun B. Papaiah, Srinivasan Namala, and Aditya Kulkarni, Avammune Therapeutics aims to develop orally bioavailable small molecules targeting the innate immune system for treating cancer and autoimmune disorders. The company plans to utilize the funds to accelerate the development of its proprietary pipeline, including the clinical advancement of its lead candidate, AVA-NP-695, an ENPP1 inhibitor.
Market Potential and Growth
Avammune’s lead asset, the ENPP1 inhibitor, has displayed significant anti-tumor efficacy in preclinical cancer models and veterinary patients. The company’s AVA-ADR, an ADAR1 p150 inhibitor, is positioned as a potential first-in-class drug in its category.
With the global immuno-oncology market valued at around $100 billion and growing at a CAGR of 17%, Avammune’s innovative approach to targeting cancer and autoimmune disorders has the potential for significant impact in the industry.
Avammune’s success in securing substantial funding reflects the growing interest and investment in biopharmaceutical startups in India. The company’s focus on developing novel treatments for challenging diseases positions it as a key player in the evolving landscape of healthcare innovation.
