Updated on 15 November 2012
Such significant amount of investments can be attributed to rising opportunities in healthcare, drug discovery, medical devices, and personalized medicine in the nation. BioSpectrum provides an insight into the latest developments that have taken place in the domain of life science funding in India.
IndoUS Venture Partners invests in Vyome Biosciences
IndoUS Venture Partners (IUVP), a venture capital firm which provides early and mid- stage funding to new or growing businesses in India, has invested $3.5 million (Rs18.5 crore) along with Aarin Capital and Navam Capital as co-investors in Vyome Biosciences, an innovation-driven dermatology company focused on developing novel and innovative treatments for common skin conditions such as dandruff, acne, pigmentation disorders and wound healing.
Dr Kumar Shiralagi, managing director, IUVP, said, "We are backing a top notch scientific team assembled in India that is leveraging leading edge platform technology to develop promising products to address the $20 billion global dermatology market."
Vyome, a privately-held biopharmaceutical company founded in August 2010 and based in New Delhi, had raised seed funding from Navam Capital. Vyome has assembled a world-class management and scientific team that collectively have a significant track record of conducting acclaimed scientific research, developing breakthrough products and building sustainable businesses. Vyome will deploy the new financing to advance the clinical development of its lead antidandruff products, and to accelerate the pre-clinical development of its anti-acne products.