Biotech startup Ahammune Biosciences raised $5 M Series A funding from pi Ventures
$5 million was raised in a Series A funding round led by pi Ventures for the biotech startup Ahammune Biosciences. Along with current investors Ideaspring Capital, Kotak Alternate Assets, Legacy Assets LLP, and IAN, the round also saw participation from Capital2B, Colossa Ventures, Bipin Agarwal, and Unicornus Maximus LLP.
A little over $3 million had previously been raised by the Pune-based business from both its current investors and others.
According to a press release from Ahammune Biosciences, the new fund will be utilized to carry out Phase II human clinical trials for vitiligo drug candidates, broaden the company’s patent portfolio, and enhance research and development for additional immune-mediated skin conditions.
Ahammune Biosciences is a clinical-stage therapeutics company that Parul Ganju and Krishnamurthy Natarajan co-founded in 2016. Its mission is to develop novel treatments and cures for skin diseases. It uses its unique small molecule therapeutics platform to target and improve skin health, with a focus on chronic skin conditions. The company wants to advance the field of skin disease therapies by providing novel, cost-effective treatments that meet unmet needs in dermatology.
Ahammune claims that the goal of its initial program is to create a novel vitiligo treatment candidate. It states that its small molecule drug candidate has a first-in-class mechanism of action, is not likely to cause generalized immunosuppression, and can both stimulate the activity of skin’s color-producing cells and induce repigmentation.
Ahammune is creating a pipeline of patented molecules to treat various autoimmune and dermatological conditions in addition to vitiligo. Its goal is to increase the number of patents it holds in relation to its unique small molecule therapeutics platform, which it uses to treat skin conditions by focusing on important cellular processes that affect immunity and skin health. In order to optimize reach and commercial potential, the company is also looking to form partnerships with pharmaceutical companies to co-develop the assets.
