[Funding Alert] Biotechnology startup Zumutor Biologics raises $6.2M for oncology molecule
Biotech companyhas raised $6.2 million in Series A4 funding. The round was led by Accel, Bharat Innovation Fund (BIF), and new incoming deep tech investor, Siana Capital.
The company had earlier raised capital from Chiratae Ventures, Aarin Capital, and Karnataka Information Technology Venture Capital Fund (KITVEN). With this funding, the total capital raised by the company is over $26.2 million.
The team is in the process of filing an IND and getting into FIH( first in human) studies in the US by the middle of 2022, for this they intend to raise a larger (series B) round for completion of phase 1 studies and progress of assets in the pipe
Kavitha Iyer Rodrigues, Founder and CEO, Zumutor Biologics, said, "Our investors have shown immense trust and gumption in Zumutor’s tech capabilities to take the lead program ZM008, a first-in-class novel monoclonal antibody drug into IND filing and Phase 1 studies."
She added across the board approximately 20 percent of cancer patients benefit from immunotherapy. Kavita said the team now has a single-minded focus towards patient benefit, to make this life-saving therapy accessible to thousands of cancer patients through targeting Natural killer (NK) cells.
"ZM008 - the lead product from the pipeline is a therapeutic antibody aimed to look at solutions for very refractory or “cold” tumour settings where current immunotherapies have had little effect. We aim to address the refractory or “cold” tumours to help convert to immune active or “hot” tumors through a mono therapy/ combination therapy modalities," said Kavita.
She added, the product ZM008 is an NK ( natural killer cell) activating antibody which targets a unique check-point on tumours and through a validated mechanism of action, bringing about cytotoxicity or tumour killing which has now been proven through animal models.
The pre-clinical safety in rat and non-human primate species is also completed with excellent safety profiles.
"Zumutor’s aims to look at options of globally licensing the asset on the heels of human data. The other assets in the pipeline are compelling, will also be progressed to pre clinical safety. We are in data room diligence with five global biotech/ Biopharmas for licensing," added Kavita.
Founded in June 2015, Zumutor has developed two antibody engineering platforms to facilitate its programme for discovery and development of immunotherapies (for cancer) that have the potential to be novel best-in-class monotherapies, and core components of innovative combination treatments.
Immunotherapy is a type of cancer treatment that helps a patient’s immune system fight cancer, while monotherapy uses one type of treatment to treat a certain disease.
"I am very excited about ZM008, this funding will facilitate the IND filing of ZM008 and start of Phase I trial in multiple cancers,” said Dr. Maloy Ghosh, CSO Zumutor.