Vishnupriya
Mumbai: Venture capitalist firm Unicorn India Ventures has committed to investing ₹3 crore in Bhubaneswar-based biotech startup Exsure during a seed round. The funding will support the startup in achieving key milestones for its non-clinical study and advancing its global expansion plans.
Over the past 12 months, Exsure initiated a non-clinical study in India in collaboration with a contract research organization (CRO) and successfully achieved one of its preclinical milestones using its patented technology.
The company aims to complete the non-clinical study by the end of this year, present its data to the Central Drugs Standard Control Organization (CDSCO) for approval, expand its team, and strengthen global product marketing and sales, according to the release.
Commenting on the investment, Bhaskar Majumdar, Managing Partner, Unicorn India Ventures, said, “The funding accelerates Exsure’s mission to deploy solutions at a global level. We believe Exsure will not only sustain its momentum but also achieve significant growth due to its potential for transformative breakthroughs through its nano delivery platform.”
Founded in 2021, Exsure is a biotech startup focused on reducing the side effects and toxicity of anti-cancer drugs through its patented exosomal drug-delivery platform, which targets both cancer and cancer stem cells.
The Bhubaneswar-based startup is poised to capitalise on the exponential growth of the Indian biotech industry, which is expected to reach $150 billion this year and further expand to $270–$300 billion by 2030.
