Zumutor Biologics gets $4 million in fresh funds

BENGALURU: Zumutor Biologics, a biotechnology startup in the immuno-oncology space, has raised $4 million in fresh funding from the Bharat Innovation Fund and Accel Partners, bringing its total funding to $20 million so far.

The company said the capital will be used for the process of new drug filing of its lead molecule (ZM 008) in India, and to go through the first phase of clinical trials by the end of 2020.

“Our first-in-class lead molecule, ZM 008 has made industry validated progress and is poised for IND filing with Phase 1a/1b clinical trials likely to commence end of 2020,” said Kavita Iyer Rodrigues, CEO of Zumutor Biologics. The startup was one of the finalists for the Top Innovator category in The Economic Times Startup Awards, 2019 edition.