India, May 12 -- Healthtech startup Avammune Therapeutics has raised $12 Mn (INR 100 Cr) as a part of its Series A funding round co-led by Capital 2B, Shastra VC and Kotak Alternate Asset Managers' Life Sciences Fund I.

The round also saw participation from IvyCap Ventures, 1Crowd and others.

The company plans to use the fresh capital to boost its IP portfolio and support clinical development of its lead candidate AVA-NP-695 (an ENPP1 inhibitor) and preclinical development of other pipeline molecules.

Founded by Arun B Papaiah, Srinivasan Namala and Aditya Kulkarni in 2020, Avammune Therapeutics is a biopharmaceutical startup working on discovery of small molecule medicines which influences the immune system for treatment of cancer and...