Avammune Therapeutics Raises $12Mn In Series A Round To Advance Cancer Therapies

Healthtech startup Avammune Therapeutics has raised $12 million (Rs 100 Cr) as a part of its Series A funding round led by Capital 2B.

The funding round also saw participation from IvyCap Ventures, 1Crowd and others.

The company will use the fresh proceeds to strengthen its patents and continue developing its main drug candidate, AVA-NP-695, as well as other early-stage drugs.

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Formerly known as Straximm Therapeutics, Avammune was separated from Bangalore-based Aten Porus Lifesciences in 2020.

According to Avammune, its main drug, AVA-NP-695, has shown strong anti-cancer effects in early tests on osteosarcoma, Ewing’s sarcoma, and breast cancer.

“This funding validates our extensive preclinical datasets and empowers us to accelerate the development of our lead program into the clinic for addressing critical unmet needs in oncology,” cofounder Arun B Papaiah said.

“The best-in-class profile of AVA-NP-695 combined with its strong antitumor activity in veterinary cancers in “compassionate use” settings demonstrates a differentiated dataset in the field,” said Avammune’s chief scientific officer Kulkarni.

About Avammune Therapeutics

Founded in 2020 by Arun B Papaiah, Srinivasan Namala and Aditya Kulkarni, the Philadelphia-based Avammune Therapeutics is a biopharma startup developing small molecule drugs that target the immune system to treat cancer and autoimmune diseases.

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