Bengaluru-based cell therapy company Eyestem has raised $6.4 million (Rs 51 crore) in a Series A round of funding. The funding round was led by three pharma majors–Biological E Limited (BE), Alkem, NATCO, and Anurag and Karan Bagaria, promoters of Kemwell Biopharma. 

It also saw participation from existing investors Endiya Partners and Kotak Private Equity, valuing Eyestem at $46.4 million (Rs 371 crore) post-money.

Eyestem | Scalable Cell Replacement Therapies

Founded by Dr Jogin Desai in 2016, Eyestem is developing scalable cell replacement therapies and aims to disrupt the global cell therapy ecosystem and set a new benchmark for quality and affordability in this sector.

Speaking on the development, Dr Jogin Desai, Founder and Chief Executive Officer of Eyestem, said,

“We started Eyestem with the sole purpose of being able to create cell therapy products at scale for diseases that devastate a large number of people in India and the world. The support of major Indian pharma companies who share our vision endorses our strategy of developing affordable innovation for patients worldwide. Post this funding, we will remain focussed on solidifying our cell therapy platform and moving our flagship product for Dry AMD through early clinical trials of an international standard.”

Started by an experienced team of clinical research, regenerative medicine and ophthalmology experts, Eyestem has built collaborations with other leaders in related scientific disciplines in India, the UK, Japan, and the United States. 

Eyestem is working with a long-term vision to develop a scalable cell therapy platform to treat incurable diseases and democratize access to these newer technologies globally.

Commenting on the development, Dr Ramesh Byrapaneni, Managing Partner of Endiya Partners, said,

“Endiya Partners is delighted to back such strong, globally competitive innovative startups and participate in the current funding round. The addition of leading pharma and biotech investors on our cap table is a great validation of the world-class science that Eyestem is pursuing, which can change millions of lives globally.”

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