Biotech Startup Immuneel Therapeutics Raises 100 cr in funding

immuneel biotech

Biotech Startup Immuneel Therapeutics has raised 100 cr rupees in funding in the extension of Series A round from Taiba Middle East FZ LLC. This is third round of investment for the company . The company is based on cancer treatment solution.

Immuneel Therapeutic board has passed a special resolution to issue 1o equity shares and 8,164 Series A1 CCPS at an issue price of Rs 1,22,330 each to raise Rs 100 crore or $12 million, its regulatory filing accessed from the Registrar of Companies show.

The new funding will used for growth and expansion as decided by the board, the filings further added. The firm has been valued at around Rs 587 crore or $71 million (post-allotment). Following the fresh proceeds, Taiba Middle East FZ holds a 17% stake in the company. The round appears to be ongoing and it may raise more funds.
The company has raised around $40 million to date including its $15 million Series A financing co-led by Eight Roads Ventures, True North, and F-Prime Capital in 2022.

The company was Founded by Biocon founder Kiran Mazumdar Shaw , Siddhartha Mukherjee and Kush Parwar . Immuneel Therapeutics is an Indian clinical-stage startup which is engaged in developing cell and gene therapies for cancer patients. It’s also working on developing its own pipeline of chimeric antigen receptor T-cell (CAR-T) therapies and other cellular immunotherapies for management and treatment of cancer. The firm claims to offer therapies at one-third of the costs borne for gene therapies in America.

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