Sayre Therapeutics raises USD 8 million in 2 rounds of funding

City-based pharmaceutical company Sayre Therapeutics Pvt Ltd today said it has raised USD eight million across two rounds of funding from Accel Partners and Aarin Capital.

The company with a portfolio of Oncology, Interventional Oncology and Immunology drugs, drug delivery devices and next-generation diagnostics, also said that it has raised USD 1 million in venture-debt from InnoVen Capital.

The plan is to use the funds for team expansion in India, geographical footprint in other South Asian countries, and invest in clinical trials for their novel in-licensed assets, the company said in a release.

"The follow-on investment from the VCs was based on the early traction seen in building a product pipeline through partnerships with global and domestic partners, a sales footprint in India and a strong team to capitalise on a USD 650 million market for Oncology and Immunology segments in the region," Sayre CEO Shukrit Chimote said.

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