Eyestem, a cell therapy firm, raises Rs51 crore from BE, Alkem, and Natco

8 Aug 2022 , 12:56 PM

The Eyestem, a company founded in 2016, has created an investigational treatment for dry AMD called Eyecyte-RPE that replaces damaged retinal pigment epithelial cells and is intended to restore sight for individuals with early-stage dry AMD or stop vision loss for those with advanced stages. A surgical procedure is used to administer the allogenic (outside cell) product, which is both domestically and internationally patented.

For instance, the cell therapy startup Eyestem, based in Bengaluru, announced on Monday that it had raised Rs51 crore in a Series A round that was headed by three large pharmaceutical companies: Biological E (BE), Alkem, Natco NSE 0.16%, and Anurag and Karan Bagaria, who are the Kemwell Biopharma entrepreneurs.

This round included participation from current investors Endiya Partners and Kotak Private Equity, who valued Eyestem at Rs371 crore post-money.