Ahammune Biosciences, a clinical-stage therapeutics company working towards creating new ways to treat and cure skin diseases, has raised a Series A funding round of $ 5 Mn led by pi Ventures. Others participating in the round include Capital2B, Colossa Ventures, Bipin Agarwal, Unicornus Maximus, and existing investors Ideaspring Capital, Kotak Alternate Assets, Legacy Assets and IAN.
The recently raised funding will assist the company in conducting Phase II human clinical trials for its promising drug candidate for vitiligo. Additionally, the funds will be utilised to expand the patent portfolio and advance Ahammune’s R&D efforts for other immune-mediated skin diseases.
Ahammune was founded in 2016 by Dr Parul Ganju, co-founder and CEO, and Dr Krishnamurthy Natarajan, co-founder and Professor, School of Life Sciences, Jawaharlal Nehru University. Since its inception, Ahammune has aimed to advance innovative solutions for chronic skin diseases.
Ahammune’s initial program is focused on developing a new drug candidate for vitiligo, a skin depigmenting disorder that currently has no cure. Vitiligo, a chronic condition with unpredictable and recurring appearance of white patches, is prevalent in about 1-2 per cent of the global population.
Talking about the drug, Dr Parul Ganju stated, “Unlike existing treatments, our small molecule drug candidate does not cause generalised immunosuppression and has first-in-class mechanism of action, with an ability to not only stop patch spread, but also stimulate the function of colour producing cells in skin, thereby inducing repigmentation.” The drug has established safety in Phase 1 clinical trials and has advanced to Phase 2.
In addition to vitiligo, Ahammune is developing a strong pipeline of patented molecules to treat other dermatological and autoimmune diseases. Ahammune’s strategy is to expand its patent portfolio around its proprietary technology – the small molecule therapeutics platform, with a focus on treating skin conditions by targeting key cellular processes that influence skin health and immunity. The company is also seeking partnerships with pharmaceutical companies to co-develop the assets to maximise reach and commercial potential.