Healthcare company Ykrita Life Sciences (YLS) has raised $1.2 million led by Venture Catalysts along with Indian Scientific Innovation Company Limited.
Headed by Mahesh Gopasetty along with Akshay Datey and Taru Verma, YLS is developing a bio-medical device: Bio-engineered Artificial Ectopic Liver (BAEL), aimed at helping clinicians to treat patients suffering from liver failure while eliminating the need for an organ transplant, hospitalization, and exorbitant expenditure on the treatment.
BAEL has passed the in-Vitro phase of development and is currently in the in-Vivo phase of development. As part of this stage in its developmental journey, the machine will have to pass the animal testing phase, followed by clinical trials. YLS reserves the right to pick any of the multiple options of monetizing its IP, including licensing, contract manufacturing, and in-house manufacturing.
The company’s lead investor Venture Catalysts is an incubator platform which invests $250K to $1.5 million in early-stage startups, where they bring a combination of capital, mentoring and business network to help investee companies to succeed.