Bengaluru-based Mitra Biotech Raises $40 million
Mitra Biotech, a Bengaluru-based oncology solutions firm has reportedly secured funds amounting to $40 million (about Rs 270 crore) in a Series-C funding round. The following round was led by Northpond Ventures based in Maryland.
The existing investors that participated in the funding round were Accel Partners, Sequoia Capital, Sands Capital Ventures, RA Capital Management and Tata Capital.
“Northpond is excited to join Mitra, as the CANscript platform has the potential to meaningfully improve how we treat cancer patients,” said Michael P Rubin, CEO at Northpond Ventures.
The funds so raised will be utilized by the company for commercial and trade expansion. A part of funds will also be used for completing the required data generation to get reimbursement coverage for a broad category...