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September 11, 2012

Deal Alert: Vyome Biosciences Raises Series A Financing

From the Press Release: 

Vyome Biosciences Private Limited, an innovation driven dermatology company focused on developing novel and innovative treatments for common skin conditions such as dandruff, acne, pigmentation disorders and wound healing, today announced that it has closed Series A financing round of Rs. 18.50 crore. The round was led by IndoUS Venture Partners (IUVP), with Aarin Capital and Navam Capital as coinvestors. 

Vyome will deploy the new financing to advance the clinical development of its lead antidandruff products, and to accelerate the pre-clinical development of its anti-acne products. These safer and more effective next-generation treatments are being developed by harnessing emerging genetic information on the disease-causing microbes with advances in nanotechnology. Vyome has already filed multiple Indian and Global patents on these technologies. “Our vision is to emerge as a company that launches global products from India and competes with the best in the world” said Dr Shiladitya Sengupta, Co-Founder of Vyome and Assistant Professor of Medicine at Harvard Medical School.

“Vyome is developing creative approaches that will transform how skin diseases will be treated in the future. Dermatology is one area that has not seen much innovation for over five decades but with the recent advances in science, significantly more effective solutions become possible. Vyome has attracted top talent globally, and the ability to generate multiple highly differentiated products by harnessing cutting-edge scientific platforms creates a very compelling value proposition” said Dr R.A. Mashelkar, Chairman of Vyome's Board of Directors and former Director General of CSIR.

“We are backing a top notch scientific team assembled in India that is leveraging leadingedge platform technology to develop promising products to address the $20 billion global dermatology market” said Dr Kumar Shiralagi, Managing Director, IUVP. 

“Nanotechnology applications are poised to completely transform the future of pharmacotherapy and consumer products as did biotechnology beginning in the 1980s. We are pleased to support some of the leading academic scientists and ventures in this area” said Dr Ranjan Pai, Managing Partner, Aarin Capital. 

“Navam is delighted to welcome IUVP and Aarin as investors in Vyome. The work Vyome is doing will challenge assumptions and change perceptions about India’s capacity to deliver genuine innovation. We are demonstrating what Indian technology companies can achieve if they focus on building innovative products,” said Rajeev Mantri, Co-Founder and President of Vyome, and Executive Director of Navam Capital. 

About Vyome Biosciences Private Limited 

Vyome is a privately-held biopharmaceutical company based in Delhi focused on the development of novel therapeutics for dermatology applications. The Company, which had raised seed funding from Navam Capital, was founded in August 2010 by Dr Rajesh Gokhale, Director of Institute of Genomics & Integrative Biology in Delhi, Dr Shiladitya Sengupta, Co- Chair at the Center for Regenerative Therapeutics at Brigham & Women’s Hospital in Boston, USA and Assistant Professor of Medicine at Harvard Medical School, and Rajeev Mantri, Executive Director of Navam Capital.

Vyome has assembled a world-class management and scientific team, alongside a Board of Directors and Scientific Advisory Board that collectively have a significant track record of conducting acclaimed scientific research, developing breakthrough products and building sustainable businesses. 

About IUVP 

IndoUS Venture Partners (IUVP) is a leading venture capital firm which provides early and mid- stage funding to new or growing businesses in India. Our team comprises experienced entrepreneurs and executives who understand the model of incubating ideas and transforming them into successful enterprises. It is our privilege to fund entrepreneurial ideas and offer collaborative partnerships. We invest in tomorrow's business leaders, explosive new markets and enterprises that will transform our future. We foster close partnerships with our portfolio companies, and build strong relationships based on integrity, trust and mutual respect. At IUVP, we are committed to redefining Indian entrepreneurship and are excited about India's potential to be an innovative player in the global market. Our approach to investing and our philosophy of building successful companies makes us the ideal partner for entrepreneurs. 

About Navam Capital

Navam Capital is a venture capital firm focused on seed and early-stage investments in energy, life sciences, Internet, advanced materials and other emerging technology sectors. Navam backs innovation-driven companies that are developing significantly differentiated products in the pursuit of large market opportunities. Navam was the founding investor in Vyome Biosciences, investing Rs 4.50 crore in 2010. 

About Aarin Capital 

Aarin Capital invests in innovative ideas in the health care, life sciences and technology based products and services business pursuing large market opportunities that are led by driven and committed teams.