Biotech Startup Zumutor Raises $6.2 Mn Funding From Siana Capital, Existing Investors

Bengaluru and Boston based biotech startup Zumutor Biologics has raised $6.2 Mn in its Series A4 funding round led by Siana Capital along with existing investors Accel and Bharat Innovation Fund.

In a statement, the startup said that the fundraise will propel it into the next phase of uncovering value globally.

Further, it also said that the funding would also pave the way for the startup to file for the phase 1 clinical trial of ‘ZM008’, an NK (natural killer) cell activating antibody for prostate cancer, in the US.

Founded by Kavitha Iyer Rodrigues in 2013, the biotech startup had raised $4 Mn from Bharat Innovation Fund and Accel Partners in 2019.

Zumutor Biologics develops NK cells therapeutics with a first-in-class antibody to treat prostate cancer. They have two proprietary Antibody Engineering Platforms to develop novel immunotherapies that target innate immunity and regulate the tumor microenvironment.

The biotech space is making rapid strides of late. According to India’s department of biotechnology, the country’s biotechnology sector is estimated to reach the market size value of $100 Bn by 2025. India holds 3% of the global biotechnology market and is the third largest in Asia-Pacific region, according to the department.

India has over 4,237 biotech startups and is expected to have over 10,000 by 2025. There are 760+ core biotech companies with 200+ Biotech products available in the Indian market, as per the InvestIndia website.