Immuneel Therapeutics Raises ₹100 Cr for Global Gene Therapy Expansion

Immuneel Therapeutics, a Bangalore-based biotechnology startup, has successfully closed a ₹100 Crore Series B funding round. The investment was led by Singularity AMC and Rainmatter by Zerodha, with participation from existing investors including Kiran Mazumdar-Shaw, Eight Roads Ventures, and F-Prime Capital.

The newly acquired capital will be strategically deployed to enhance Immuneel’s Good Manufacturing Practice (GMP) production capabilities, advance its pipeline of next-generation cell and gene therapies, and expand its geographical footprint across the Asia Pacific and Middle East regions.

Founded in 2018 by Kiran Mazumdar-Shaw, Kush M Parmar, and Siddhartha Mukherjee, Immuneel Therapeutics focuses on developing and delivering cell and gene therapies, such as chimeric antigen receptor T (CAR-T) cell therapy, for cancer treatment in India. The company aims to provide more affordable cancer care options and improve patient outcomes.

CEO Amit Mookim highlighted that a significant portion of the funds will support the commercialization of ‘Qartemi,’ an approved CAR-T therapy for Non-Hodgkin Lymphoma. CAR-T therapy involves modifying a patient’s own immune cells to target and destroy cancer cells. While currently focused on blood cancers like leukemia, lymphoma, and multiple myeloma, Immuneel is also exploring treatments for solid tumors.

Immuneel began treating patients with its commercialized gene therapy in late 2024, with over 100 patients having undergone the therapy to date. The company’s ambitious goal is to compete with more expensive Western solutions by offering its treatments at a significantly lower cost, potentially less than 10% of the typical $400,000 to $500,000 price tag in North America and Europe. This strategy targets emerging markets in the Middle East, Africa, and Southeast Asia, where access to such advanced treatments is limited.

This latest funding round follows a ₹100 Crore extension of its Series A in 2024 from Taiba Middle East FZ LLC and a $15 million Series A raise in April 2022. With this Series B, Immuneel Therapeutics has raised a total of approximately $38 million to date.

Kiran Mazumdar-Shaw commented, “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.”

The Indian biotechnology sector is experiencing a growth spurt, with several startups, including Cellogen and Oncare, also focusing on developing affordable cancer therapies. Immuneel’s success underscores the growing potential of India’s biotech industry to address global healthcare challenges through innovation and cost-effective solutions.