Kiran Mazumdar Shaw’s Immuneel Therapeutics raises Rs 100 crore in funding

Immuneel Therapeutics, a Bengaluru-based biotech startup focused on cancer, has raised Rs 100 crore or approximately $12 million in an extended Series A funding round led by Taiba Middle East FZ LLC.

The latest investment brings Immuneel Therapeutics' all-time raise to about $40 million.

The board at Immuneel Therapeutic has passed a special resolution to issue 1o equity shares and 8,164 Series A1 CCPS at an issue price of Rs 1,22,330 each to raise Rs 100 crore or $12 million, according to the regulatory filings accessed from the Registrar of Companies.

Who are the founders?

Immuneel Therapeutics was founded by Kiran Mazumdar Shaw, the founder of Biocon, along with oncologist and Pulitzer winner Siddhartha Mukherjee and Kush Parwar.

The company is developing cell and gene therapies for cancer patients. It’s also working on developing its own pipeline of chimeric antigen receptor T-cell (CAR-T) therapies and other cellular immunotherapies for the management and treatment of cancer.

Following the latest funding round, Taiba Middle East FZ holds a 17% stake in Immuneel, and the company has been valued at around Rs 587 crore (approximately $71 million) post-allotment.

Scaling up R&D activities

Immuneel Therapeutics will use the raised capital to support the growth and expansion plans. Specifically, the company plans to scale up its research and development activities, expand clinical trials, and enhance its manufacturing capabilities.