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Bengaluru based biotech firm Immuneel Therapeutics has closed a Series B funding round of over Rs 100 crore, marking a significant milestone in India’s rapidly evolving oncology landscape. The round was led by a mix of new and existing investors, including Singularity AMC, Rainmatter by Zerodha, and a cohort of high net worth individuals. Existing stakeholders Kiran Mazumdar-Shaw, Eight Roads Ventures, and F-Prime Capital also reaffirmed their confidence in the company by participating in the round.
A Company Built on Scientific Ambition
Established in 2018 by Kiran Mazumdar-Shaw, Siddhartha Mukherjee, and Kush Parwar, Immuneel was conceived with a singular mission: to make cutting-edge cell and gene therapies accessible to cancer patients in India and beyond. Since inception, the company has raised over $40 million across multiple financing rounds, including a $15 million Series A in 2022 co-led by Eight Roads Ventures, True North, and F-Prime Capital, and a Rs 100 crore Series A extension in 2024 from Taiba Middle East FZ LLC, which valued the company at approximately Rs 587 crore post-money.
Qartemi: A Landmark in Indian Oncology
Central to this latest fundraise is the continued commercialization of Qartemi, India’s first domestically approved CAR-T (Chimeric Antigen Receptor T-cell) therapy, indicated for Non-Hodgkin Lymphoma and leukemia. CAR-T therapies represent one of the most sophisticated frontiers in cancer treatment, reprogramming a patient’s own immune cells to identify and destroy malignant cells. Until recently, such treatments were accessible only in select Western markets at prohibitive costs, placing them out of reach for the majority of patients in emerging economies.
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Strategic Deployment of Capital
The proceeds from this round will fund several key priorities: scaling Good Manufacturing Practice (GMP) production facilities, broadening the research and development pipeline, and driving geographic expansion across the Asia Pacific region and the Middle East. Immuneel is also advancing clinical co-development partnerships in Australia and Southeast Asia, positioning itself as a credible international player in the advanced therapeutics space.
Looking Ahead
As India’s biotech ecosystem matures, Immuneel Therapeutics stands at a compelling intersection of scientific innovation and commercial ambition. With a validated product in the market, a growing investor base, and an expanding international footprint, the company is well positioned to redefine cancer care standards not only within India but across the broader developing world.
