Sayre Therapeutics raises $8 million from Accel, Aarin Capital1 min read . Updated: 04 Sep 2017, 07:19 PM IST
Bengaluru-based Sayre Therapeutics, a super- speciality pharma company, has also raised $1 million in venture-debt from InnoVen Capital
Mumbai: Sayre Therapeutics, a super- speciality pharma company, on Monday said it has raised $8 million across two rounds of funding from Accel Partners and Aarin Capital.
The company, which has a portfolio of oncology, interventional oncology and immunology drugs, drug delivery devices and diagnostics, has also raised $1 million in venture-debt from InnoVen Capital, it said in a statement.
The Bengaluru-based firm said it plans to use the funds for team expansion in the country, geographical footprint in other South Asian countries, and invest in clinical trials for their novel in-licensed assets. “The follow-on investment from the VCs was based on the early traction seen in building a product pipeline through partnerships with global and domestic partners, a sales footprint in India and a strong team," Shukrit Chimote, Chief Executive Officer, Sayre, said in the statement.
The company seek to fill the gaps in early cancer diagnosis and treatment by licensing in novel drugs, devices and diagnostics to the country at an affordable cost, and a significant discount to the global prices, the statement added.