[Funding alert] Avammune Therapeutics raises funding from The Chennai Angels

Avammune Therapeutics Inc, a drug discovery company has raised undisclosed amount from The Chennai Angels for the completion of IND enabling studies for their Immuno-oncology asset.

The latest funding helps advance Avammune’s assets for oncology and autoimmune disorders, the company said in a statement.

The US-based Avammune Therapeutics was founded in 2017 by Arun B Papaiah, Aditya Kulkarni and Srinivasan Namala, It is a drug discovery company focused on immuno-oncology and specifically the STING pathway. It is developing a multimodal approach to modify the STING pathway for cancer treatment. Their multimodal approach employs a combination of engineered viruses and small molecules.

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“We are developing a novel class of drugs that harnesses the body’s first line of defence against pathogens to combat cancer. These highly effective drugs can potentially overcome the resistance to current drugs and due to their chemical nature can be taken by the patient as oral tablets and are potentially more affordable alternatives to biological drugs”, said, Dr Aditya Kulkarni, Chief Scientific Officer, Avammune Therapeutics Inc.

The company is in parallel discussions with leading pharma and biotech companies for clinical translation of the assets and strategic investors to take the assets through independent clinical trials.

Arun B Papaiah, CEO, Avammune said, “Avammune’s technology platform has been validated in various animal models and is gearing up for safety studies. With the influx of funding, we are hoping to complete these safety studies and are gearing up for partnerships for entering clinical testing next year. This latest round of funding will also allow us to further strengthen our diversified pipeline of drugs for cancers and autoimmune diseases. It is a pleasure working with The Chennai Angels who join existing and other new investors and are excited to bring them on board as partners.”

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“Despite tremendous progress being made in the discovery and development of new medicines for cancer, the disease continues to affect millions every year. TCA is happy to be part of Avammune’s development of Immuno-oncology assets”, said, Sameer Mehta, Director, Mehta’s Multispecialty Hospital India Pvt Ltd, and the Lead Investor from The Chennai Angels.

About Avammune Therapeutics

Avammune Therapeutics is a drug discovery company focused on the development of novel immunotherapeutics to address high unmet medical needs. Their research is driven by the science that have a potential to create a significant difference on the disease platform.

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Their expertise lies in developing small molecule drugs that can be administered systemically and can potentially overcome the issues faced by the currently available therapeutics for cancer and immunological disorders. They work with experts in disease biology to achieve this goal which aims at improving the lives of patients significantly. Their research efforts has led to successful completion of projects in the immunoncology space.