Biotech startup Immuneel Therapeutics raises Rs 100 Cr in Series A round extension
The Bengaluru-based cancer treatment startup will allot 10 equity shares and up to 8,164 Series A2 Compulsorily Convertible Preference shares as part of the round.
Cancer focused biotech startup Immuneel Therapeutics has raised Rs 100 crore from TAIBA Middle East FZ LLC, a filing with the Registrar of Companies (RoC) showed.
The company passed the special resolution to allot 10 equity shares and up to 8,164 Compulsorily Convertible Preference shares with face value of Rs 10 and a premium of Rs 1,22,320 per share.
This marks the company’s fourth Series A round after raising $11 million in 2019, $1.4 million in 2020, and $15 million in 2022 from investors including F-Prime Capital, Khosla Ventures, and Eight Roads Ventures, according to data website Tracxn. The round appears to be ongoing.
Immuneel Therapeutics was founded in 2018 by Biocon founder Kiran Mazumdar-Shaw, Pulitzer Prize winner Siddhartha Mukherjee, and Kush Parker.
The Bengaluru-based startup aims to make CAR-T cell therapy commercially available to patients in India at affordable prices and is developing the country’s first Phase 2 trial for CD19 CAR-T(IMN-003A) for B cell malignancies (Leukemia & Lymphoma).
According to Tracxn, the company reported a fall in its revenue for the year FY 2021-2022 to Rs 80 lakh from Rs 3.1 crore in 2020-2021 and its net loss widened to Rs 30.9 crore from Rs 16.4 crore a year earlier.
Edited by Megha Reddy