Avammune Therapeutics raises $12 million to advance cancer therapies
BENGALURU: Biopharmaceutical startup
Avammune Therapeutics
has raised $12 million (Rs 100 crore) in a
Series A funding
round co-led by Capital 2B, Shastra VC, and Kotak Lifesciences Fund I, with additional participation from IvyCap Ventures and returning investor 1Crowd.
Founded in 2020, Avammune is developing
small molecule immunotherapies
that activate the body's innate immune system to treat cancer and autoimmune disorders. The latest infusion will fund clinical development of its lead asset AVA-NP-695 – an ENPP1 inhibitor – alongside preclinical work on pipeline candidates, as per a company statement.
The company operates out of Philadelphia and Bengaluru and was started by serial biotech entrepreneurs Arun Papaiah, Srinivasan Namala, and Aditya Kulkarni.
AVA-NP-695 has demonstrated strong antitumor responses in preclinical models for cancers including osteosarcoma, Ewing's sarcoma, and triple negative breast cancer. It has also been tested in veterinary patients through compassionate-use programs, according to the company.
'Current immuno-oncology drugs mostly target the adaptive immune system and are largely biologics that require injections,' said CEO Papaiah.
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'We're taking a small molecule approach to activating the innate immune system, which could be easier to administer and potentially more accessible, especially in emerging markets.'
Unlike traditional therapies such as chemotherapy and radiation, immuno-oncology (IO) treatments aim to harness the immune system to selectively attack cancer cells. While approved IO drugs like checkpoint inhibitors have shown results, only 30-40% of patients respond to them.
Targeting innate immunity represents a newer frontier in IO drug development, the company said.
The global IO market, currently estimated at $100 billion, is projected to grow at a CAGR of 17%, driven by increasing cancer incidence and demand for novel therapies. Most existing IO therapies are high-cost biologics with limited accessibility in countries like India.
'The best-in-class profile of AVA-NP-695 and its early data in hard-to-treat cancers make it a compelling candidate,' said Shastra VC partner Avijeet Alagathi, noting the lack of progress in osteosarcoma treatment over the past four decades.
Avammune's broader pipeline includes AVA-ADR, an ADAR1 p150 inhibitor that has shown in vivo efficacy – an uncommon feat in its category. The company has also developed a proprietary chemical library to target DNA/RNA-binding proteins, which it says allows it to create highly targeted therapies at lower doses.
With a team of over 40 across its global operations, Avammune partners with institutions including UCSF, Oxford University, and University of Queensland for early-stage research collaborations.
The company plans to initiate human trials for AVA-NP-695 in the near future.
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