Invictus Oncology Private Limited, an Indian innovation-driven oncology company developing next generation cancer therapeutics that are more effective and less toxic announced that Chairman emeritus of Tata Sons Limited, Mr Ratan N. Tata, has invested in the company as part of the first close of Invictus’s Series A financing round, joining existing investors Navam Capital and Aarin Capital. The details of Tata’s investment in the company were, however, not disclosed.
Ratan Tata has been aggressively investing in startups recently with Invictus oncology being its sixth investment in the row this year.
Invictus Oncology employs a supramolecular technology platform to design anti-cancer drugs that home into the tumor and modulate the tumor immune response. Its lead molecule, IO 125, has already been validated in multiple cancer models, and is poised to enter IND-enabling studies to obtain US Food and Drug Administration (US FDA) approval for initiating clinical studies.
Invictus Oncology has already developed a deep pipeline of molecules, which address a $20 billion market opportunity in the oncology space. Recent acquisitions and partnership deals in this area have taken place at multi-billion dollar valuations.
“I have admired Ratan Tata’s insights and astute assessment of technology for decades now, so I am thrilled he has invested in Invictus, which is not just developing ground-breaking innovations for cancer treatment, but is also among the very first startups based out of India to tread the path of novel discovery and biotech innovation,” said Invictus Co-Founder, Dr. Raghunath A. Mashelkar.
“Mr Tata’s investment is a strong affirmation of the quality of the technology that Invictus has developed. We are getting excellent traction from investors, both from India and outside,” said Dr. Shiladitya Sengupta, Co-Founder of Invictus and Assistant Professor of Medicine at Harvard Medical School.
The funds raised will be used to advance Invictus’ lead molecule for completion of Phase I clinical studies, and to file a second Investigational New Drug (IND) application; milestones which translate into substantial value inflections for Invictus Oncology over the next 12-18 months.
About Invictus Oncology Private Limited:
Invictus Oncology is a biopharmaceutical company based in Delhi, India focused on the development of novel therapeutics for cancer treatment. Invictus was co-founded by Harvard Medical School’s Dr. Shiladitya Sengupta and Padma Vibhushan Dr. Raghunath A. Mashelkar.
Invictus has assembled a world-class management and scientific team, alongside a Board of Directors and Scientific Advisory Board that collectively have a significant track record of conducting acclaimed scientific research, developing breakthrough products and building sustainable businesses. Invictus is backed by Navam Capital and Aarin Capital.
About Navam Capital:
Navam Capital is a venture capital firm focused on seed and early-stage investments in the energy, technology and healthcare sectors. Navam invests in transformational, innovation-driven ventures, assisting companies in translating technology from concept to product. By partnering with companies early and adding substantial value through the formative stages of a venture, Navam supports entrepreneurs in laying the foundations for growth and accelerates market success for break-through innovations.
About Aarin Capital:
Aarin Capital invests in innovative ideas in the healthcare, life sciences and technology-based products and services business pursuing large market opportunities that are led by driven and committed teams.
Source: Invictus Oncology Private Limited