Biotech | Pixr8 News

26Jan By PriyankaNo Comments

FUNDING

Axis Biosolutions Raises 47 Crore Funding From Ratan Tata & Others

Bengaluru based Axio Biosolutions has raised $7.4 million (about Rs 47 crore) in a Series-B funding round led by Ratan Tata's RNT Capital, Accel Partners and IDG Ventures India. The company will use the funds for geographical and product portfolio expansion. The medtech company that specialises in wound care also gave an exit with 7X returns to the company's first institutional investor, GVFL, an Ahmedabad-based venture capital firm. "We were focused on the Middle East and India but we will branch out now... get into Europe and the US. We are working on another product in wound care. We are also looking into the consumer segment... we want to introduce a product portfolio in that market. This will be both through channel tie ups and direct to consumer", said Axio Founder. Axio ...

Amazon Founder Bezos Invested in Biotechnology Company Unity

UNITY Biotechnology known as Unity today announced the closing of a $116 million Series B financing from Bezos Expeditions (the investment vehicle of Jeff Bezos) and existing investors WuXi PharmaTech and Mayo Clinic Ventures. ARCH Venture Partners, Baillie Gifford, Fidelity Management and Research Company, Partner Fund Management, Venrock and other investors was also participated in this round. The funding will be used to expand ongoing research programs in cellular senescence and advance the first preclinical programs into human trials. Unity is a privately held biotechnology company creating therapeutics that prevent, halt, or reverse numerous diseases of aging. The company also announced that Keith Leonard, 25-year biotech industry veteran and current executive chairman, will ...

Bangalore-based startup grown human liver in laboratory

A Bangalore-based biotech startup, Pandorum Technologies, founded in 2011 has grown a human liver in the laboratory. The startup is formed by Arun Chandru and Tuhin Bhowmickin in 2011, who were pursuing their higher studies at the IISc. They came together to work on the development of artificial human organs after winning a business competition. The “liver” is actually 3D-printed living tissue — grown from human cells — that can function as the human liver. These tissues will reduce the costs of research as they can be used for medical trials without depending on human or animal tissue. With their use, the discovery of drugs and vaccines will become cheaper and more efficient. “We developed everything here in India,” said Mr. Chandru to The Hindu. “We can grow thousands of these tissue...