SUMMARY
- Ahammune Biosciences bags $5M in Series A to fund vitiligo trials & expand its patent portfolio.
- The startup targets immune-mediated skin disorders with proprietary small-molecule therapeutics and seeks global partnerships.
- Financials show EBITDA up 51.15%, assets down 6%, and a debt-to-equity ratio of 0.00 for FY2023.
Indian biotech startup Ahammune Biosciences has secured $5 million (nearly ₹42 crores) in a Series A funding round led by pi Ventures. With the fresh funds, the company plans to grow its patent portfolio, support Phase II human clinical trials for its vitiligo treatment candidate, and develop research into other immune-mediated skin illnesses.
Along with the current investors Ideaspring Capital, Kotak Alternate Assets, Legacy Assets LLP, IAN, Capital2B, Colossa Ventures, Bipin Agarwal, and Unicornus Maximus LLP also participated in the fundraising.
“Post this (Phase II trial), we are looking for two things, either take this for the next fundraising round series, the bigger fundraising round for taking it for commercialization after doing Phase III, or we are also looking for partners to co-develop this drug candidate for the global market”, stated co-founder and CEO Parul Ganju, as reported by YourStory.
Parul Ganju and Krishnamurthy Natarajan founded Ahammune in 2016 to become a significant participant in the nation’s dermatological drug discovery market and resolve global health issues.
The firm is focused on strengthening its intellectual property portfolio around a proprietary small-molecule therapeutics platform designed to treat skin disorders by targeting key cellular processes that regulate immunity and skin health. In addition, the company is advancing a pipeline of patented molecules aimed at addressing various dermatological and autoimmune diseases.
For the financial year ending March 31, 2023, the business reported revenue of under ₹1 crore. EBITDA saw a notable increase of 51.15%, while net worth declined by 4.68%. The company’s total assets decreased by 6.00%, with liabilities reduced by 30.51%. Fixed assets grew by 57.46%, but current assets dropped by 27.00%. The debt-to-equity ratio remains at 0.00, with a return on equity of -4.91%. Additionally, the company’s current ratio stands at 15.32, and trade receivables remained unchanged at 0.00%.
