Sayre Therapeutics Pvt. Ltd. raises two rounds of funding from Accel Partners and Aarin Capital
Bangalore, India – September 4, 2017 – Sayre Therapeutics Pvt. Ltd. (Sayre or the Company), a super-specialty pharmaceutical company with a portfolio of Oncology, Interventional Oncology and Immunology drugs, drug delivery devices and next-generation diagnostics, has raised $8MM USD across two rounds of funding from Accel Partners and Aarin Capital. The company has also raised $1MM USD in venture-debt from InnoVen Capital.
SayreTherapeutics, based in Bangalore, India plans to use the funds for teamexpansion in India, geographical footprint in other South Asian countries, andinvest in clinical trials for their novel in-licensed assets.
Shukrit Chimote, ChiefExecutive Officer, Sayre said, “The follow-on investment from the VCs was based on theearly traction seen in building a product pipeline through partnerships withglobal and domestic partners, a sales footprint in India and a strong team tocapitalise on a ~ USD 650MM market for Oncology and Immunology segments in theregion”.
Vandana Subramanian, Chief Business Officer, Sayre said, “We seekto fill the gaps in early cancer diagnosis and treatment by licensing in noveldrugs, devices and diagnostics to the country at an affordable cost,and a significant discount to the global prices. We will continue toexpand the scope of medical care by bringing in these advanced medicaltechnologies and drugs, and thereby provide more options to the physicians andpatients in the subcontinent”.
Praveen Bose, SVP & Head, Sales & Marketing, Sayre said, “Our medicalscience liaisons and key account managers continue to partner doctors andeducate patients on new solutions in the fast-evolving field of cancer”.