Immuneel Therapeutics Raises ₹100 Cr for Global Gene Therapy Expansion
Technicians in cleanroom suits processing materials in a gene therapy manufacturing facility.
Key Highlights
Bengaluru-based Immuneel Therapeutics secures ₹100 Cr Series B funding to scale gene therapy manufacturing and expand affordable blood cancer treatments globally.
Immuneel Therapeutics, a Bengaluru-based biotech startup, has successfully raised ₹100 crore in its Series B funding round. The capital infusion is earmarked for scaling the company’s Good Manufacturing Practice () capacity, advancing its next-generation deep tech cell and gene therapy pipeline, and expanding its geographical footprint across the Asia Pacific and Middle East regions.
The latest funding round saw participation from new investors Singularity AMC and Rainmatter by Zerodha. Existing backers, including founder Kiran Mazumdar-Shaw, Eight Roads Ventures, F-Prime Capital, and a consortium of undisclosed High Individuals (HNIs), also contributed to the Series B round.
Strategic Investment for Global Expansion
Founded in 2018 by Kiran Mazumdar-Shaw, Kush M Parmar, and Siddhartha Mukherjee, Immuneel Therapeutics specializes in cell and gene therapies, including chimeric antigen receptor T (-T) cell therapy, to combat cancer in India. The company aims to provide affordable cancer treatments, enhance access to advanced care options, and improve patient outcomes.
Amit Mookim, CEO of Immuneel Therapeutics, elaborated on the deployment of the newly raised funds. “We are scaling up our manufacturing capacity, so we are putting capital into that. Additionally, investment is going into localisation and manufacturing know-how that’s going to leverage Immuneel’s base for our current as well as our future programs,” Mookim told Inc42.
A significant portion of the funds will support the commercialisation of Qartemi, an approved CAR-T therapy designed for Non-Hodgkin Lymphoma. This disease is a type of blood cancer affecting the lymphatic system. Qartemi operates by modifying a patient’s own immune cells to specifically identify and attack cancer cells.
Currently, CAR-T technology is primarily applicable to blood cancers, including leukemia, lymphoma, and multiple myeloma. Immuneel is actively treating lymphoma patients in India and plans to extend treatment to leukemia patients soon, while also pursuing programs in solid tumors, though these are not yet commercially available.
Pioneering Affordable Gene Therapy
Immuneel began offering its commercialised gene therapy solutions in late 2024, having treated over 100 patients to date. The company’s strategic goal is to globalize its offerings, positioning itself as a competitive alternative to more expensive solutions prevalent in regions like North America and Europe.
Mookim highlighted the cost disparity, noting that similar treatments in Western countries typically range from $400,000 to $500,000 per patient. Immuneel aims to provide these therapies at less than 10% of that cost. “We believe that we can actually solve this problem not only for India but for the rest of the world, starting with the Middle East, Africa, and Southeast Asia, where cancer patients don’t have access to these treatments,” he stated.
Following the commercial launch of Qartemi, Immuneel is concentrating on expanding its presence in high-growth emerging markets and fostering clinical co-development partnerships across Australia and Southeast Asia.
India’s Growing Biotech Sector
Prior to this Series B round, Immuneel Therapeutics secured ₹100 crore in an extended Series A funding round from Taiba Middle East FZ LLC in 2024. In April 2022, the company raised approximately $15 million in its Series A funding. With the latest infusion, Immuneel’s total funding to date stands at nearly $38 million.
Kiran Mazumdar-Shaw underscored the significance of the fundraise, stating, “This fundraise strengthens our ability to build a globally competitive CAR-T platform from India combining deep science, scalable manufacturing and significantly improved affordability. We believe India can play a meaningful role in shaping the future of cell and gene therapy for the world.”
India’s biotech sector is experiencing a significant boom, particularly in gene therapy, with numerous startups emerging to address the affordability challenge that Western counterparts have yet to fully resolve. Immuneel’s approach mirrors that of Natco Pharma-backed Cellogen, which also focuses on developing more affordable CAR-T cell therapies for cancers and blood disorders. Cellogen recently secured ₹20 crore from Kotak Alts for its research platform.
Mookim observed that while China boasts hundreds of gene therapy companies, India’s biotech moment has arrived, akin to the tech and fintech boom witnessed a decade ago. He attributed this momentum to new government funding and evolving investor and regulatory ecosystems. However, he cautioned that long-term success requires more than just strong science, emphasizing the critical roles of manufacturing, supply chains, and go-to-market strategies as biotech startups scale.