Zumutor Biologics, a biotechnology startup which is in the immuno-oncology space, has raised $4 million as part of its Series A2 funding round led by new investor Bharat Innovation Fund (BIF). Existing investor Accel Partners also participated in the round.
With this newly raised fund amount, total funding to the company rose to $20 million. Earlier, the startup had raised capital from Chiratae Ventures, Aarin Capital, and Karnataka Information Technology Venture Capital Fund (KITVEN).
Responding to the development, Kavitha Iyer Rodrigues, Founder and CEO, Zumutor Biologics was quoted as saying, “Our first-in-class lead molecule ZM 008 has made industry validated progress and is poised for IND filing with Phase 1a/1b clinical trials likely to commence end 2020. Series A2 funding will enable pivotal milestones in development stages.”
Barath Shankar Subramanian, Partner at Accel, said, “Accel is excited to continue to partner with and support Zumutor in its quest to bring in transformational changes to the way cancer is treated.”
Founded in June 2015, Zumutor is in the niche space of developing Natural Killer (NK) cells therapeutics with a first-in-class antibody to treat prostate cancer.