Cellogen Therapeutics secured ₹20 crore from Kotak Alternate Asset Managers. The biotech startup targets cancer and blood disorder treatments that aim to be 8X cheaper than current options. Natco Pharma already holds a 5% stake, indicating pharma's early bet on these CAR-T therapies.
How We Got Here
Cellogen, founded in 2021 by Dr. Gaurav Kharya and Dr. Tanveer Ahmad, previously raised ₹15 crore from Natco Pharma for a 5% stake. Kotak Alts made the investment via its Kotak Life Sciences Fund I, which hit its first close at ₹250 crore last January.
The Numbers
- Cellogen's bispecific CAR-T platform targets two different cancer markers, lowering relapse probability versus single-marker therapies.
- The startup expects to price its treatments at $60K-$70K, a significant drop from the market's $500K-$700K range.
- It is working towards Phase I human clinical trials for CAR-T in collaboration with CMC Vellore, subject to regulatory approvals.
- Early-stage programs for beta thalassemia and sickle cell disease are also under development.
- KLSF-I previously invested ₹65 crore in nutrition supplements startup ZeroHarm Sciences in February.
What Happens Next
🇮🇳 Why This Matters for India
For Indian oncologists and patients in metros like Delhi and Mumbai, Cellogen's approach offers a pathway to making advanced cancer treatments financially viable.
The Take
The real play here is the pharma sector, not just VC. Natco’s early stake indicates big pharma sees Cellogen’s cost-effective CAR-T as a critical future revenue stream.
Source:
Inc42 ↗