Indian Cell Therapy Biotech Eyestem Secures New Funding to Advance Eyecyte-RPE for Dry AMD

According to foreign media outlet VCCircle, Eyestem, a Bangalore-based Indian medical technology company specializing in cell therapy, has announced the completion of a new round of financing. The lead investors were Zurich-based Jacesa Investments, South Africa’s Church Street Trustees, and Gillian Corken, CEO of Quintiles Transnational for Africa. Indian firm Impres Health participated as an additional investor. The specific amount of the transaction was not disclosed.In a statement, the company indicated that it would use the funds to conduct human clinical trials aimed at understanding the primary causes of incurable blindness. Furthermore, Jogin Desai, Co-founder and CEO of Eyestem, stated that the company would also utilize the capital to manufacture its flagship product, Eyecyte-RPE. This product is designed to treat dry age-related macular degeneration (Dry AMD), a condition affecting approximately 170 million people worldwide. Eyestem aims to initiate human clinical trials for this product within 18 months.Notably, Eyestem is considered to have the potential to create a scalable cell therapy platform, which could set the direction for industry-wide development. Cell therapy involves transplanting laboratory-cultured cells into the human body to replace or repair damaged cells.In recent years, there have been numerous transactions in the medical technology sector, with startups seeking to leverage new technologies and funding to address longstanding challenges. In April this year, medical solutions platform SigTuple Technologies raised $116 million in a Series C funding round led by Trusted Insight. In February, breast cancer screening startup Niramai Health Analytix secured $6 million in a Series A funding round led by Dream Incubator, a Tokyo-based management consulting firm.Part of the content in this article is sourced from VCCircle.

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