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bengaluru, india , March 15, 2024 /PRNewswire/ — Pandrum Technologies, a leading biotechnology company, today announced that it has successfully closed and secured a pre-Series B funding round. $11 million (INR 88 billion) in investing. Funding was provided by Mr. Ashish KachoriaEverest Finance Investment, Acebright Pharma, a syndicate of Mr. Vandana Kankani and existing investors, Mr. Sunil Kant Munjal and Indian Angel Network.
was founded by Arun Chandru &Dr. Tuhin Bhowmik, this startup focuses on tissue engineering and regenerative medicine. With this funding, Pandorum aims to advance towards first-in-human research of its flagship product, Kuragenx (“liquid cornea”), to treat corneal blindness. The funding will also enable the company to advance its tunable technology platform, which has demonstrated the potential for regeneration beyond the cornea, including liver, lung and neural tissue.
“We are thrilled to have the backing of such high-profile investors. Ashish Kachoria– We continue to innovate and develop treatments to restore healthy tissue function to help patients suffering from unmet clinical needs. Our flagship product, his Kuragenx, combines proprietary biomaterials with regenerative nanotherapy to guide the formation of functional corneal tissue and restore vision. “This is a first-in-class approach that truly blurs the line between treatment and cure.” Tuhin Bhowmik,Ko-FFounder and CEO of Pandorum Technologies.
Mr. Ashish Kachoria “This startup is working on a treatment for corneal blindness. Although the road to commercialization is long, it promises amazing rewards for all of humanity. Indian science and the scientific community are making amazing progress.” Stated.
“There is a paradigm shift happening in India’s biotech and life sciences space, with deep technology companies like Pandrum pushing boundaries and creating world-class innovations. We wish the team every success in what they set out to achieve. ,” said Vandana Kankani of NextMile. The person who invested in and also advised this funding round.
“It’s exciting to see the companies that come out of here.” India The company was founded by two young founders who want to change the landscape of corneal transplants and blindness worldwide. We are pleased to support the team on the path to commercialization of the corneal regeneration platform Kuragenx.” Ashish Sheth – Partner at Orbit Financial Capital (OFC). OFC acted as buy-side advisor to Acebright Pharma.
Corneal opacification is one of the leading causes of blindness around the world, and millions of people are waiting for donor tissue at a significant rate. Pandorum’s Kuragenx promotes scar-free regeneration of corneal tissue and restores vision, as demonstrated in extensive preclinical studies. In 2023, Krajenx received orphan drug designation from the U.S. Food and Drug Administration for the treatment of neurotrophic keratitis, a form of ulcerative corneal blindness that is currently untreatable or extremely difficult to treat. Pandorum is currently working on an IND that will enable the clinical manufacturing process and study of Cragenx with the goal of dosing the first patient in 2025 after receiving appropriate regulatory approvals.
“Restoring vision with something made in a lab without relying on donor corneas is truly revolutionary. Kudos to the team at Pandrum. “This would not have been possible without the support of the system. Indeed, this is a multi-billion dollar global opportunity, and even more, it will positively impact millions of lives.” . Arun Chandru,Ko-FManager and director of the company.
Pandorum’s research and development labs include: bangalore, india And in the Bay Area, San Francisco, united states of america, working with prominent global partners. The company received a competitive grant from the Department of Biotechnology. Indiaand has so far raised funds from leading investors and venture capitalists, including Mr. Sunil Kant MunjalBinny Bansal, TK Kurien, sachin bansal021 Capital, Indian Angel Network (IAN) Fund, Karnataka Venture Fund (KITVEN), Kotak Investment Advisors, and 500 Startups.
For more information, please visit: www.pandorum.com
Logo: https://mma.prnewswire.com/media/2362884/Pandorum_Logo.jpg
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