Pandorum Technologies Raises $18M in Series B to Advance Global Access to Programmable Tissue Regenerative Therapies

Pandorum Technologies, a biotechnology company pioneering programmable regenerative medicine, with operations in India and the United States, has announced the closing of a US$18 million in Series B financing round, to advance the clinical development of its disease-modifying, tunable, exosome-based therapies, including Kuragenx, while scaling global manufacturing and expanding operations across the U.S., Japan, and the Middle East.

The round was led by Protons Corporate, with participation from Galentic Pharma, marquee investor Ashish Kacholia, Noblevast Advisory and Avinya Fund, Burman Family and others. Bandana Kankani, advisor and investor at Pandorum, had guided the transaction, optimizing the alignment between the investment architecture and company’s value creation.

Founded by Tuhin Bhowmick and Arun Chandru, Pandorum’s proprietary platform combines biology, engineering, and computation to develop tunable, regenerative exosome therapies that reprogram pathological tissue states, like inflammation and fibrosis, toward functional recovery.

"Just like the Ship of Theseus, the human body is constantly being rebuilt. Pandorum focuses on restoring biological memory, redefining regenerative medicine at its core, “said Dr. Tuhin Bhowmick, Co-Founder and CEO of Pandorum. “Our approach treats tissue health, disease, and degeneration as a navigational challenge within an information-constrained biological landscape,” added Dr. Tuhin. “This funding would enable us to translate breakthrough science into programmable, disease-modifying therapies, beginning with single-tissue applications and scaling to multi-tissue repair, aligned with Pandorum’s vision- to heal fast and age slow.”

Congratulations to our team for this achievement. Regenerative medicine, particularly for corneal blindness, is a global necessity that knows no borders, said co-founder Arun Chandru.

The clinical translation efforts are led by globally recognized clinicians, including Dr. Virender Singh Sangwan (Dr. Shroff’s Charity Eye Hospital, New Delhi), Dr. Shigeru Kinoshita (Kyoto Prefectural University of Medicine, Kyoto), and Dr. Ramez Haddadin and Dr. Satish Nadig (Northwestern Medicine, Chicago).

Pandorum has implemented a globally distributed manufacturing strategy, including a CDMO partnership with AGC Biologics (Italy) for the U.S. and European markets, and a strategic collaboration with Nucelion Therapeutics (India), a subsidiary of Bharat Biotech, to support supply across the Asia-Pacific region. The company is also exploring potential partnerships in the Middle East.

Pandorum’s primary focus is on ocular surface diseases, such as Stevens–Johnson Syndrome and Neurotrophic Keratitis, for which Kuragenx has received U.S. FDA Orphan Drug Designation. In addition to ophthalmology, it is expanding its tunable platform to address systemic conditions, including inflammatory and degenerative diseases affecting the lung, liver, and nervous systems.

About Pandorum Technologies

Pandorum Technologies is a biotechnology company focused on tissue engineering and regenerative medicine. The company operates research facilities in India, and the U.S. For more information, visit www.pandorum.com

Bengaluru Startup Pandorum Bio-Engineers Cornea Tissue for Scar-Less Regeneration & Vision Restoration

Pandorum Technologies Pvt. Ltd., a tissue engineering and regenerative medicine startup company, announced the development of bio-engineered cornea tissue that can promote scarless healing of corneal wounds through bio-inspired regenerative approach.

Scientists at Pandorum have successfully formulated a novel hydrogel that can encapsulate and deliver corneal stem cells to the wound site, to stimulate scarless regeneration. Pandorum’s cell laden hydrogel can be directly applied in a minimally invasive manner as ‘Liquid Cornea’ to corneal wounds and perforations, and can also be 3D bio-printed as corneal lenticules for lamellar keratoplasty. This research study was presented at the prestigious annual meeting of the Association for Research in Vision and Ophthalmology (ARVO-2019) held in Vancouver, Canada.

Dr. Tuhin Bhowmick, co-founder of Pandorum who holds a PhD from the Indian Institute of Science, and is an alumnus of European Molecular Biology Labs (EMBL), said, “Being able to bio-engineer critical tissues such as the human cornea is a significant milestone.” The work is currently in the stage of animal studies, and the team is preparing to move towards pilot human studies in 2020.

“According to the World Health Organization, corneal disorders are one of the major causes of blindness worldwide. Though surgically replacing the opaque tissue with a clear corneal allograft is usually effective in improving vision, there is an acute shortage of cadaveric human corneas available for transplantation. In India alone, there are over a million people suffering from bilateral loss of vision due to corneal disorders, and at least a few folds more from unilateral corneal blindness. At Pandorum, we are working to close this gap using bio-engineering approach- through stage-wise development of a platform, which is ultimately aimed to liberate us from the dependencies on human donor cornea,” added Dr. Bhowmick.

Pandorum is developing these bio-engineered cornea tissues in collaboration with the L.V. Prasad Eye Institute (LVPEI), one of the world’s largest eye institutes that has served more than 26 million people. Cornea surgeons Dr. Virender Sangwan and Dr. Sayan Basu, and scientist Dr. Vivek Singh, at LVPEI, have been playing a crucial role in translation of this technology. Dr. Sangwan, a Shanti Swarup Bhatnagar awardee, renowned for the development of a novel surgical technique- Simple Limbal Epithelial Transplantation (SLET), was one of the early visionaries of this collaborative project. In his view, “Pandorum’s Bio-engineered Cornea is a transformational technologies and could lead to scarless healing of corneal injuries with rejection-free corneal graft. In a way, such platform technology addresses the need for the repair of corneal injuries and perforations, and also meeting the requirement for partial or total replacement of cornea.”

To recall, in 2015 the startup first gained popularity for developing India's first artificial 3D printed liver tissue

Pre-clinical studies involving clinically relevant corneal wound models in rabbits are presently underway, led by Dr. Singh and Dr. Basu. According to Dr. Singh, a cornea and stem cell expert, “The technology can be a game changer in the field of regenerative treatment of corneal wounds, after the safety and efficacy have been successfully established.”

Pandorum’s investors include Binny Bansal, Sachin Bansal, Sunil Munjal, T.K. Kurien, Indian Angel Network (IAN), 021 Capital, Karnataka Information Technology Venture Capital (KITVEN), Kotak Investment Advisors and 500 Startups.

“It is a proud moment for all of us to present our breakthrough innovation at the ARVO-2019 meeting,” said Arun Chandru, co-founder of Pandorum Technologies. Founded in 1928, ARVO is the largest eye and vision research organization in the world that includes nearly 12,000 researchers and clinicians from over 75 countries. “Such innovation at global level has been possible due to the excellent government backed biotech startup ecosystem, the support of our investors and our exceptional multi-disciplinary team. Yes, translation of such living tissue-based therapies from lab to clinic is an arduous and expensive task involving comprehensive animal and human studies,” added Mr. Chandru. “More importantly; we are excited about our potential to impact millions of lives.”
About Pandorum Technologies

Founded in 2011 by academic entrepreneurs, Pandorum Technologies Pvt. Ltd. is a biotechnology startup with distinct synergy of life science, engineering and clinical competencies. The company works on design and manufacturing of functional human tissues- cornea and liver; for medical research and therapeutic applications. Pandorum is supported by the Biotechnology Industry Research Assistance Council (BIRAC), Department of Biotechnology, Government of India, and has received ‘Bio-Excellence’ award from the Government of Karnataka in 2016.

In February last year, Pandorum had raised $3.6 million in a series A round from Indian Angel Network Fund, 021 Capital, 500 Startups and the Karnataka government backed Karnataka Information Technology Venture Capital (KITVEN) fund.

Flipkart To No Longer Invest in Startups Proactively

Post Walmart acquisition, Indian e-commerce giant Flipkart will now no longer invest in startups proactively as it used to do. The company will now only invest in startups if it is strategic to its business, says Binny Bansal in a discussion with Subrata Mitra, partner at venture capital firm Accel, at an event organised by angel investing platform LetsVenture.

"Flipkart will look at investing less in companies. There was a time probably when there was more cash than we needed. We have been investing in non-series A (funding rounds)," said Bansal.

Notably, Flipkart has invested quite a few in startups including Silicon Valley-based AI company F7 Labs, Bangalore-based home rentals startup Nestaway, peer-to-peer marketplace WeHive, and online freight-booking service Zinka. It was reported earlier this year that it is looking to invest $25 million in at least one other AI company in Silicon Valley to take on its rival Amazon in India.

Binny further said that that in its learning the company has learned that the cash it raises in funding capital ought to further used in company's interest, and for differentiation and exclusivity in the market. "The capital you raise is not for investing. We are not in the business of investing. The investments we make will be strategic in nature,” he said.

Notably, both Flipkart co-founders Binny Bansal and Sachin Bansal have also invested, in their capacities, in as much as 35 startups including electric scooter startup Ather Engergy, Bio-Tech startup Pandorum Technologies, fintech venture Sigtuple and news app InShorts.

In January this year, Sachin and Binny Bansal, have together incorporated a new company for new businesses, which was speculated to include venture capital funding and insurance. However thereafter no news of same have been heard perhaps because soon after this US retail giant Walmart had started process of acquisition of Flipkart and finally in May acquired a 77% stake in the company for $16 billion in the largest online commerce transaction in the world.

On other hand, Flipkart's biggest rival Amazon is on investment spree in India as a couple of months back Amazon led a $12 million funding round in Acko Technologies, which is a digital-only insurance startup headquartered in Mumbai.

In the same month, Bangalore-based Naffa Innovations Pvt. Ltd, which operates digital payments startup, ToneTag, raised $8-10 million from a clutch of investors led by Amazon Inc. and Mastercard. A month back to this, Amazon has also invested $22 million in Capital Float, a Bengaluru headquartered digital lending startup.

Additionally, Last month Jeff Bezos has also said that he is excited to keep investing in India.

Source - Times of India

Flipkart To No Longer Invest in Startups Proactively

Post Walmart acquisition, Indian e-commerce giant Flipkart will now no longer invest in startups proactively as it used to do. The company will now only invest in startups if it is strategic to its business, says Binny Bansal in a discussion with Subrata Mitra, partner at venture capital firm Accel, at an event organised by angel investing platform LetsVenture.

"Flipkart will look at investing less in companies. There was a time probably when there was more cash than we needed. We have been investing in non-series A (funding rounds)," said Bansal.

Notably, Flipkart has invested quite a few in startups including Silicon Valley-based AI company F7 Labs, Bangalore-based home rentals startup Nestaway, peer-to-peer marketplace WeHive, and online freight-booking service Zinka. It was reported earlier this year that it is looking to invest $25 million in at least one other AI company in Silicon Valley to take on its rival Amazon in India.

Binny further said that that in its learning the company has learned that the cash it raises in funding capital ought to further used in company's interest, and for differentiation and exclusivity in the market. "The capital you raise is not for investing. We are not in the business of investing. The investments we make will be strategic in nature,” he said.

Notably, both Flipkart co-founders Binny Bansal and Sachin Bansal have also invested, in their capacities, in as much as 35 startups including electric scooter startup Ather Engergy, Bio-Tech startup Pandorum Technologies, fintech venture Sigtuple and news app InShorts.

In January this year, Sachin and Binny Bansal, have together incorporated a new company for new businesses, which was speculated to include venture capital funding and insurance. However thereafter no news of same have been heard perhaps because soon after this US retail giant Walmart had started process of acquisition of Flipkart and finally in May acquired a 77% stake in the company for $16 billion in the largest online commerce transaction in the world.

On other hand, Flipkart's biggest rival Amazon is on investment spree in India as a couple of months back Amazon led a $12 million funding round in Acko Technologies, which is a digital-only insurance startup headquartered in Mumbai.

In the same month, Bangalore-based Naffa Innovations Pvt. Ltd, which operates digital payments startup, ToneTag, raised $8-10 million from a clutch of investors led by Amazon Inc. and Mastercard. A month back to this, Amazon has also invested $22 million in Capital Float, a Bengaluru headquartered digital lending startup.

Additionally, Last month Jeff Bezos has also said that he is excited to keep investing in India.

Source - Times of India

Drugs Controller General of India To Launch Dedicated Cell For Startups in Pharma Sector

The Drugs Controller General of India (DCGI) plans to set up a dedicated cell for supporting and regulating innovation and startups in the pharma sector. The announcement was made by Dr. Eswara Reddy, Newly Appointed Head of the DCGI.

The upcoming cell, preliminary named as Innovation Support and Regulatory Cell, will have a dedicated and trained staff to address the problems of innovators and start-ups. The proposed cell will be set up at the office of the Central Drugs Standard Control Organsiation at New Delhi within next two to three weeks.

Emphasising on a need to bridge the gap between regulators and innovators such pharma-based startups & entrepreneurs working on new-age drugs, Dr. Reddy said, "Many start-ups are also coming up in pharma and allied segments and are clueless about regulation, which is affecting their performance. Unless innovators and regulators work in close coordination, industry cannot come up with innovative products, which are the need of the hour."

A dedicated startup cell is required is required because often, innovators who are mostly scientists and researchers do not have knowledge of regulations and, as a result, face a lot of problems, he added.

Through the upcoming cell, big pharma players or even startups working on innovative products or solutions can indirectly approach DCGI at any stage for any purpose.

The above news was first reported in The New Indian Express.

The newly appointed DCGI head Dr. Reddy also said that the major priority of DCGI is how it can do ease of doing business in its system and thereby how can it promote Make in India and drug discovery in India.

DCGI is under the gamut of Central Drugs Standard Control Organization, which is a regulatory body for India pharmaceuticals and medical devices. DCGI is primarily responsible for approval of licenses of specified categories of drugs such as blood and blood products, IV fluids, vaccines and sera in India.

Earlier in 2016, when DCGI was headed by Dr. G.N. Singh, a temporary ban was placed on selling medicines online by DGCI due to business affected to brick and mortar pharmacist by e-pharma companies such as Healthkart, Practo and NetMeds, among others.

This time however DCGI is more focussing towards innovation in pharmaceutical and drug making, and help startups specifically to cut off hindrances it get while making such efforts.

It is to be noted that in last couple of years significant number of startups have had showcased their innovation in pharmaceutical and new-age drug production. For an instance, Bengaluru based Pandorum, which recently raised ₹ 23 crore, is currently working on bioengineering human cornea that can potentially be implanted. Its 3D-printed human tissues can be used for drug development and medical research.

Another, drug based startup from Bengaluru Axio Biosolutions has patented and CE-approved product that has prevented countless deaths due to haemorrhage and grievous injuries. The startup has recently raised $7.4 million from Ratan Tata's RNT Capital.

Drugs Controller General of India To Launch Dedicated Cell For Startups in Pharma Sector

The Drugs Controller General of India (DCGI) plans to set up a dedicated cell for supporting and regulating innovation and startups in the pharma sector. The announcement was made by Dr. Eswara Reddy, Newly Appointed Head of the DCGI.

The upcoming cell, preliminary named as Innovation Support and Regulatory Cell, will have a dedicated and trained staff to address the problems of innovators and start-ups. The proposed cell will be set up at the office of the Central Drugs Standard Control Organsiation at New Delhi within next two to three weeks.

Emphasising on a need to bridge the gap between regulators and innovators such pharma-based startups & entrepreneurs working on new-age drugs, Dr. Reddy said, "Many start-ups are also coming up in pharma and allied segments and are clueless about regulation, which is affecting their performance. Unless innovators and regulators work in close coordination, industry cannot come up with innovative products, which are the need of the hour."

A dedicated startup cell is required is required because often, innovators who are mostly scientists and researchers do not have knowledge of regulations and, as a result, face a lot of problems, he added.

Through the upcoming cell, big pharma players or even startups working on innovative products or solutions can indirectly approach DCGI at any stage for any purpose.

The above news was first reported in The New Indian Express.

The newly appointed DCGI head Dr. Reddy also said that the major priority of DCGI is how it can do ease of doing business in its system and thereby how can it promote Make in India and drug discovery in India.

DCGI is under the gamut of Central Drugs Standard Control Organization, which is a regulatory body for India pharmaceuticals and medical devices. DCGI is primarily responsible for approval of licenses of specified categories of drugs such as blood and blood products, IV fluids, vaccines and sera in India.

Earlier in 2016, when DCGI was headed by Dr. G.N. Singh, a temporary ban was placed on selling medicines online by DGCI due to business affected to brick and mortar pharmacist by e-pharma companies such as Healthkart, Practo and NetMeds, among others.

This time however DCGI is more focussing towards innovation in pharmaceutical and drug making, and help startups specifically to cut off hindrances it get while making such efforts.

It is to be noted that in last couple of years significant number of startups have had showcased their innovation in pharmaceutical and new-age drug production. For an instance, Bengaluru based Pandorum, which recently raised ₹ 23 crore, is currently working on bioengineering human cornea that can potentially be implanted. Its 3D-printed human tissues can be used for drug development and medical research.

Another, drug based startup from Bengaluru Axio Biosolutions has patented and CE-approved product that has prevented countless deaths due to haemorrhage and grievous injuries. The startup has recently raised $7.4 million from Ratan Tata's RNT Capital.

Human Organs On-Demand Startup Pandorum Raises $3.6 Mn Via 021 Capital, Karnataka's KITVEN

Bengaluru based biotech startup Pandorum Technologies, which is famous for developing India's first artificial 3D printed liver tissue, has raised $3.6 million (~ ₹ 23 crore) in a series A round from Indian Angel Network Fund, 021 Capital, 500 Startups and the Karnataka government backed Karnataka Information Technology Venture Capital (KITVEN) fund, according to filings collated by Paper.vc.

The funding round also saw participation from existing investors Flipkart CEO Binny Bansal besides new investors like Hero Enterprise chairman Sunil Kant Munjal in his personal capacity and IAN’s angel network too.

"The current fundraise is to help us to make the transition from advanced prototype to market ready product stage. This will include capacity enhancement in key areas including team, tech, infrastructure, scale up and regulatory compliance," said Tuhin Bhowmick, co-founder of Pandorum Technologies, to a business daily.

Arun Chandru along with Tuhin Bhowmick, researchers from Indian Institute of Science (IISc), Bangalore, founded Pandorum in 2011. Later, the next year the startup moved into a Bangalore based biotechnology incubation center – Centre for Cellular and Molecular Platforms in the Bangalore Bio-Cluster, to access state of the art experimental facilities and to do research and development. Since then the team has received several notable awards and recognition.

In 2016, the startup had raised $311K (INR 2 Cr) from Flipkart founders - Sachin and Binny Bansal. Prior to this, Pandorum had also raised grants from the govt of India backed Biotechnology Industry Research Assistance Council (BIRAC).

Pandorum’s vision is to make personalised human organs such as lungs, liver, kidney and pancreas on demand.

The startup is presently working on bioengineering human cornea that can potentially be implanted. Its 3D-printed human tissues can be used for drug development and medical research.

To recall, BIRAC, which is one of the backer of Pandorum, has signed an MoU with Indian Angel Network to invest in India's biotech startups and bring the biotechnology startups closer to angel investors.

According to a study called “India’s Biotech Startup Ecosystem”, published by Association of Biotechnology Led enterprises (ABLE) in 2017, Indian biotech startup ecosystem is booming with 1022 bio-technology startups and Bangalore has the most number of biotech startups hosting 190 of the 1022 biotech startups formed in the last five years.

In last August, biotech startup Roivant Sciences has secured whopping $1.1 billion equity investment from the SoftBank Vision Fund. Riovant is founded by an Indian-origin entrepreneur Vivek Ramaswamy.

In October '17, a women exclusive Bio-tech Incubator was inaugurated in Chennai during the last concluded International Science Congress - 2017.