Cell therapy company Eyestem has secured $6.4 million in a Series A round led by Biological E. Limited, Alkem, NATCO, along with Anurag and Karan Bagaria. Other investors such as Endiya Partners and Kotak Private Equity have also participated in this round.
According to Eyestem, the fresh capital will be utilised to progress a treatment for dry age related macular degeneration to the clinic.
Bengaluru-based Eyestem consists of experts in clinical research, regenerative medicine and ophthalmology. The company intends to be the benchmark for quality and affordability in cell therapies for targeted conditions.
Eyecyte-RPE, the company’s patented flagship product, is an experimental treatment for dry age related macular degeneration and the company has other products in the pipeline for the treatment of incurable diseases affecting humanity. The product is allogenic, administered by a surgical procedure and is patented in India and abroad.
Eyestem claims to file for a first in human trial for the product within a year in consultation with CDSCO and US FDA.