Biotech startup Ahammune Biosciences raises $5 Mn led by pi Ventures

Biotech startup Ahammune Biosciences has raised $5 million in Series A funding round led by pi Ventures. The round also witnessed participation from Capital2B, Colossa Ventures, Bipin Agarwal, Unicornus Maximus LLP, and existing investors Ideaspring Capital, Kotak Alternate Assets, Legacy Assets LLP and IAN.

The Pune-based company had previously raised around $3 million from its existing investors and others.

The fresh fund will be used to conduct Phase II human clinical trials for drug candidates for vitiligo, expand the patent portfolio, and advance Ahammune's R&D efforts for other immune-mediated skin diseases, Ahammune Biosciences said in a press release.

Co-founded in 2016 by Parul Ganju and Krishnamurthy Natarajan, Ahammune Biosciences is a clinical-stage therapeutics company which aims to create innovative solutions to treat and cure skin diseases. With a focus on chronic skin conditions, it leverages its proprietary small molecule therapeutics platform to target and enhance skin health. The company intends to deliver cost-effective innovative treatments that address unmet needs in dermatology, advancing the future of skin disease therapies.

According to Ahammune, its initial program is focused on developing a new drug candidate for vitiligo. It claims that its small molecule drug candidate does not cause generalized immunosuppression and has a first-in-class mechanism of action, with an ability to not only stop patch spread, but also stimulate the function of color producing cells in skin, thereby inducing repigmentation.

In addition to vitiligo, Ahammune is developing a pipeline of patented molecules to treat other dermatological and autoimmune diseases. It aspires to expand its patent portfolio around its proprietary technology - the small molecule therapeutics platform, with a focus on treating skin conditions by targeting key cellular processes that influence skin health and immunity. The company is also seeking partnerships with pharmaceutical companies to co-develop the assets to maximize reach and commercial potential.