Homegrown biotech startup Ahammune Biosciences has raised $5 million in Series A funding led by early stage venture fund pi Ventures.
The funding round also saw participation from Capital2B, Colossa Ventures, Bipin Agarwal, Unicornus Maximus LLP, and existing investors Ideaspring Capital, Kotak Alternate Assets, Legacy Assets LLP and IAN, reports Entrackr.
Also Read: Biotech startup Cambrian Bioworks raises $1.45 mn in seed funding
According to the company, the fresh investment will be used to conduct Phase II human clinical trials for drug candidates for vitiligo, expand the patent portfolio, and advance Ahammune’s R&D efforts for other immune-mediated skin diseases.
The company said that its initial programme is focused on developing a new drug candidate for vitiligo. The startup claimed that its small molecule drug candidate does not cause generalised immunosuppression and has a first-in-class mechanism of action, as well as the ability to stop patch spread and stimulate the function of colour-producing cells in skin, leading to repigmentation.
The startup had previously secured around $3 million in funding from its existing investors and others.
Also Read: Healthtech startup Sunfox Technologies secures Rs 15 cr led by Venture Catalysts
Ahammune is also developing a pipeline of patented molecules to treat other dermatological and autoimmune diseases. In addition, the biotech startup intends to expand its patent portfolio around its proprietary technology, a small molecule therapeutics platform intended to treat skin conditions by targeting key cellular processes associated with skin health and immunity.
Ahammune Biosciences was co-founded by Parul Ganju and Krishnamurthy Natarajan in 2016. It is a clinical-stage therapeutics company which aims to create innovative solutions to treat and cure skin diseases.