Cancer Therapy Startup Immuneel Therapeutics Raises $15 Million Funding

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The company aims to bring cell and gene therapy programmes, especially with clinical data, to India at an affordable cost. Founded in 2019 by Biocon founder and chairperson Kiran Mazumdar-Shaw, Dr Siddhartha Mukherjee, and Dr Kush Parmar, Immuneel Therapeutics will use the funds to advance its development pipeline and scale, Mazumdar-Shaw told ET.In 2021, the company established the first current good manufacturing practice (cGMP)-approved integrated cell therapy development and manufacturing facility at the Mazumdar-Shaw Cancer Centre at Narayana Health City, Bengaluru. These therapies are available internationally at more than $350,000 per dose, making the Imagine trial the first step towards bringing affordable treatments with global quality and clinical data to patients in India, the company said. This therapy has shown remarkable results globally and is the need of the hour in India,” said Dr. Arun Anand, director and COO, Immuneel Therapeutics.