Avammune Therapeutics Secures $12 Million for Pipeline Development

Avammune Therapeutics, along with its subsidiary Avammune Lifesciences, has successfully raised $12 million (approximately Rs 100 crore) in a Series A funding round. This funding was co-led by Capital 2B, Shastra VC, and Kotak Lifesciences Fund I, which is managed by Kotak Alternate Asset Managers. IvyCap Ventures also participated alongside existing investor 1Crowd.

The funds will be directed towards advancing Avammune’s proprietary pipeline aimed at the innate immune system. This initiative focuses on developing orally bioavailable small molecules and enhancing the clinical development of the lead candidate, AVA-NP-695, an ENPP1 inhibitor, as stated by Avammune Therapeutics in a press release.

About Avammune Therapeutics

Founded in 2020 by Arun B. Papaiah, Srinivasan Namala, and Aditya Kulkarni, Avammune Therapeutics is a biopharmaceutical company that focuses on discovering small molecule medications targeting the innate immune system for treating cancer and autoimmune disorders. The company’s pipeline includes targets like Osteosarcoma, Ewing’s Sarcoma, Triple-Negative Breast Cancer, gastrointestinal cancers, and various autoimmune disorders.

Lead Assets and Efficacy

As per Avammune, its primary asset, an ENPP1 inhibitor, has shown remarkable anti-tumour efficacy in multiple preclinical cancer models, as well as in veterinary cancer patients under “compassionate use” situations. Additionally, AVA-ADR is anticipated to be a first-in-class ADAR1 p150 inhibitor. It is among the limited ADAR1 inhibitors in the field that have showcased in vivo efficacy.

Immuno-Oncology Market Insights

Market research indicates that the global immuno-oncology market is estimated to be around $100 billion and is experiencing rapid growth at a CAGR of 17%.