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Bangalore (Karnataka) [India], March 15: Biotech giant Pandrum Technologies today announced the successful completion of its pre-Series B funding round, securing an investment of USD 11 million (Rs 880 crore). The funds were raised from a syndicate of Ashish Kachoria, Everest Finance Investment, Acebright Pharma and Vandana Kankani, as well as existing investors Sunil Kant Munjal and Indian Angel Network. Ta.
Founded by Arun Chandru and Dr. Tuhin Bhowmick, the startup focuses on tissue engineering and regenerative medicine. With this funding, Pandorum aims to move forward with 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 grateful for the support of prominent investors, including Ashish Kachoria, as we continue to innovate and develop treatments that restore healthy tissue function to help patients suffering from unmet clinical needs. We’re excited about what we’re getting. Our flagship product, Kuragenx, combines “a unique biomaterial with regenerative nanotherapy that guides the formation of functional corneal tissue and improves vision. This is a first-in-class approach that can truly blur the line between treatment and cure,” said co-founder and CEO Dr. Tuhin Bhowmik. Stated. Pandrum Technologies.
Ashish Kachoria said, “This startup is working on a cure for corneal blindness. The road to commercialization is long, but promises amazing rewards for all of humanity. Indian science and the scientific community have made amazing strides. “I’m working on it,” he said.
“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 an Indian-originated company founded by two young founders set out to change the landscape of corneal transplants and blindness globally. We are on the path to commercialization of our corneal regeneration platform Kuragenx. We are happy to support the team as they move forward,” said Ashish Sheth, Partner at Orbit Financial Capital (OFC). OFC He served as a 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. Without your support, this would not have been possible.”Indeed, this is a multi-billion dollar global opportunity, and more than that, it will positively impact millions of lives.” said Arun Chandru, co-founder and director.
Pandorum has research and development labs in Bangalore, India and the San Francisco Bay Area, USA, and works with prominent global partners. The company has received competitive grants from the Department of Biotechnology, Government of India, and has previously received funding from Sunil Kant Munjal, Binny Bansal, TK Kurien, Sachin Bansal, 021 Capital, and Indian Angel Network (IAN) Fund. The company has raised funds from major investors and VCs such as , Karnataka Venture Fund (KITVEN), Kotak Investment Advisors, and 500 Startups.
For more information, please visit www.pandorum.com.
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