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October 10, 2013

Deal Alert: Aarin, Accel, IDG & Kitven invest Rs.27.5 Cr in biopharma co Theramyt

Aarin Capital, Accel Partners, IDG Ventures as well as Karnataka state government-backed KITVEN have invested INR 27.5 crore in Bangalore-based biopharma company Theramyt Novobiologics. Theramyt is developing therapies for cancer, rheumatoid arthritis and diabetes and will use the funding on research and development, hiring talent and infrastructure.

Theramyt is the second venture for scientists-turned-entrepreneurs Sohang Chatterjee and Kavitha Iyer Rodrigues. Their earlier biotech venture Inbiopro was acquired by Indian drug maker Strides Arcolab in 2012.

Source: Economic Times

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