Ahammune Biosciences raises Pre-Series A funding from Ideaspring Capital, Indian Angel Network
April 26, 2021
, March 26
Pune-based biotech start-up company Ahammune Biosciences has raised an undisclosed amount in a Pre-Series A round led by Ideaspring Capital and Indian Angel Network.
Kotak Private Equity, Legacy Assets LLP (Baldota family fund) and Ajith Kamath (ex-Pfizer) have also participated in the round along with existing investors, including Anand Deshpande and Suman Kant Munjal. The Company also has Ganesh Natarajan as an existing investor and has been in receipt of funding grant from Government of India’s body, BIRAC.
The freshly-infused capital will be used for “first-in-human” studies with Ahammune’s new drug candidate AB1001 for vitiligo. The study will comprise Phase-I safety studies in healthy human volunteers and Phase-II efficacy studies in vitiligo patients. The company will also deploy the funds in building the patent portfolio to further the resear
Women entrepreneurs can boost Middle East economies
Last week, TiE held its Women Global Competition in person in the UAE. The global initiative is dedicated to empower women entrepreneurs from across the world. More than 2000 startups submitted their pitches, of which 26 participated in the grande finale. Three winners – Inochi Care, Ahammune Biosciences and WeavAir all received a cash prize and will receive training mentoring and further access to funding.
Empowering women to pursue entrepreneurship is one of TiE’s key objectives and in this oped, Ashish Panjabi, president of TiE’s Dubai chapter explains how women entreprenuers can boost the region’s economy.