Avammune Therapeutics, a biopharmaceutical startup focused on immune-modulating therapies, has secured $12 million (approximately INR 100 crore) in Series A funding to advance its innovative cancer treatment pipeline. The investment round was co-led by Capital 2B, Shastra VC, and Kotak Alternate Asset Managers' Life Sciences Fund I, with additional participation from IvyCap Ventures, 1Crowd, and other investors.
The Philadelphia-based company, which maintains significant operations in India, plans to allocate the fresh capital toward enhancing its intellectual property portfolio and accelerating the clinical development of its lead candidate, AVA-NP-695, an ENPP1 inhibitor showing promising results in multiple cancer types.
Promising Preclinical Results
AVA-NP-695 has demonstrated powerful anti-tumor effects in preclinical models of osteosarcoma, Ewing's sarcoma, and breast cancer. The company reports that the drug candidate has also shown efficacy in veterinary cancer patients under compassionate use settings.
"This funding validates our extensive preclinical datasets and empowers us to accelerate the development of our lead program into the clinic for addressing critical unmet needs in oncology," said Arun B. Papaiah, co-founder and CEO of Avammune Therapeutics.
Dr. Aditya Kulkarni, Chief Scientific Officer at Avammune, emphasized the drug's potential: "The best-in-class profile of AVA-NP-695 combined with its strong antitumor activity in veterinary cancers in 'compassionate use' settings demonstrates a differentiated dataset in the field."
Targeting the STING Pathway
Avammune's therapeutic approach centers on modulating the STING (Stimulator of Interferon Genes) pathway, a crucial component of the innate immune system that has gained significant attention in oncology research.
Srinivasan Namala, co-founder and director at Avammune, explained the significance of their approach: "The STING pathway has gained tremendous attention in recent years for its ability to not just attack cancer on its own but also improve the efficacy of other immuno-oncology therapeutics such as checkpoint inhibitors. This financing allows us to advance our proprietary STING modulator platform through preclinical development enabling us to expand our pipeline of treatments."
The company is particularly focused on developing orally bioavailable small molecules that can effectively influence the immune system to combat various cancers and autoimmune disorders.
Company Background
Founded in 2020, Avammune Therapeutics was spun off from Bangalore-based Aten Porus Lifesciences. The company, formerly known as Straximm Therapeutics, was established by Arun B. Papaiah, Srinivasan Namala, and Aditya Kulkarni.
Papaiah brings over a decade of entrepreneurial experience, having previously co-founded several biotech ventures including Aten Porus Lifesciences, Oraxion Therapeutics, and Avaliv Therapeutics. He holds an MBA from the Royal Melbourne Institute of Technology in Australia and a BS degree from India's Christ University.
Expanding Pipeline
Beyond its lead candidate, Avammune is developing a broader pipeline of treatments targeting gastrointestinal cancers and several autoimmune disorders. The company's approach of using small molecules to modulate natural immunity represents a potentially significant advancement in the field of immuno-oncology.
The new funding will enable Avammune to not only advance AVA-NP-695 into clinical trials but also support the preclinical development of other promising molecules in its research pipeline.
This investment in Avammune reflects the growing interest in innovative approaches to cancer treatment, particularly those that harness the body's own immune system. As the company moves its lead candidate toward clinical trials, it joins the ranks of biotechnology firms working to address significant unmet needs in oncology through novel therapeutic mechanisms.
