Biotech Startup Ahammune Biosciences Raises $5 Million in Series A Funding The fresh funds will be used to support Phase II human clinical trials

Ahammune Biosciences, a clinical-stage therapeutics company focused on developing new treatments for skin diseases, has raised USD 5 million in Series A funding. The round was led by pi Ventures, with participation from Capital2B, Colossa Ventures, Bipin Agarwal, Unicornus Maximus LLP, and existing investors like Ideaspring Capital, Kotak Alternate Assets, Legacy Assets LLP, and IAN.

The fresh funds will be used to support Phase II human clinical trials for Ahammune's drug candidate aimed at treating vitiligo, a skin condition that causes white patches. The funding will also help expand the company's patent portfolio and further its research into other immune-related skin diseases.

Founded in 2016 by Dr. Parul Ganju and Dr. Krishnamurthy Natarajan, Ahammune is working to find solutions for chronic skin conditions. Dr. Ganju, the CEO, highlighted the unique approach of their drug, saying, "Unlike existing treatments, our small molecule drug does not cause generalized immunosuppression. It not only stops the spread of white patches but also helps restore skin color."

Commenting on the funding, Dr. Ganju said, "We are grateful for the support from our investors as we move forward with our Phase II trials. This funding allows us to continue our research into immune-mediated skin diseases and develop innovative treatments."

Roopan Aulakh, Managing Director of pi Ventures, expressed confidence in Ahammune's potential,"Their breakthrough drug molecule could treat vitiligo without the side effects seen in current treatments. We are excited to support them in this important journey."

In 2021, the startup raised an undisclosed funding in a round led by Ideaspring Capital and Indian Angel Network with participation of Kotak Private Equity, Dr. Ajith Kamath, and Legacy Assets LLP, along with Dr. Anand Deshpande and Suman Kant Munjal.