Invictus Oncology, a Delhi, India-based oncology company developing less toxic cancer therapeutics, received an investment from Mr Ratan N. Tata as part of the first close of its Series A financing round.
Chairman emeritus of Tata Sons Limited, Mr Ratan N. Tata, has invested in the company joining existing investors Navam Capital and Aarin Capital.
The funds will be used to advance Invictus’ lead molecule for completion of Phase I clinical studies, and to file a second Investigational New Drug (IND) application.
Co-founded by Harvard Medical School’s Dr. Shiladitya Sengupta and Padma Vibhushan Dr. Raghunath A. Mashelkar, Invictus Oncology employs a supramolecular technology platform to design anti-cancer drugs that home into the tumor and modulate the tumor immune response. Its lead molecule, IO 125, has already been validated in multiple cancer models, and is poised to enter IND-enabling studies to obtain US Food and Drug Administration (US FDA) approval for initiating clinical studies.
The company has already developed a deep pipeline of molecules, which address a $20 billion market opportunity in the oncology space.