Eyestem Raises USD 6.4 Million, In Series A Funding

Eyestem, a Bengaluru-based cell therapy company, has raised USD 6.4 million (Rs 51 crore) in a Series A round led by Biological E. Limited (BE), Alkem, NATCO and Anurag and Karan Bagaria, promoters of Kemwell Biopharma. Existing investors Endiya Partners and Kotak Private Equity also participated in this round, valuing Eyestem at USD 46.4 million (Rs 371 crore) post-money, it said in a statement on Monday.

Jogin Desai, Founder and Chief Executive Officer of Eyestem, said: "Post this funding, we will remain focused on solidifying our cell therapy platform and moving our flagship product for Dry AMD through early clinical trials of an international standard." "Eyecyte-RPE, the company's patented flagship product, is an experimental treatment for Dry Age-Related Macular Degeneration (Dry AMD) and the company has other products in the pipeline for the treatment of incurable diseases affecting humanity," the statement added.

(PTI)