Tuesday, 19 September 2017

Sayre Therapeutics raises funds for expansion

05 September 2017 | News

Sayre Therapeutics plans to use the funds for team expansion in India, geographical footprint in other South Asian countries, and invest in clinical trials for their novel in-licensed assets.

Courtesy- Flickr

Courtesy- Flickr

Sayre Therapeutics Pvt. Ltd., a super-specialty pharmaceutical company with a portfolio of Oncology, Interventional Oncology and Immunology drugs, drug delivery devices and next-generation diagnostics, has raised $8MM USD across two rounds of funding from Accel Partners and Aarin Capital. The company has also raised $1MM USD in venture-debt from InnoVen Capital.

Sayre Therapeutics, based in Bangalore, India plans to use the funds for team expansion in India, geographical footprint in other South Asian countries, and invest in clinical trials for their novel in-licensed assets.

Shukrit Chimote, Chief Executive Officer, Sayre said,The follow-on investment from the VCs was based on the early traction seen in building a product pipeline through partnerships with global and domestic partners, a sales footprint in India and a strong team to capitalise on a ~ USD 650MM market for Oncology and Immunology segments in the region”.

Vandana Subramanian, Chief Business Officer, Sayre said, “We seek to fill the gaps in early cancer diagnosis and treatment by licensing in novel drugs, devices and diagnostics to the country at an affordable cost, and a significant discount to the global prices.  We will continue to expand the scope of medical care by bringing in these advanced medical technologies and drugs, and thereby provide more options to the physicians and patients in the subcontinent”.

Praveen Bose, SVP & Head, Sales & Marketing, Sayre said, “Our medical science liaisons and key account managers continue to partner doctors and educate patients on new solutions in the fast-evolving field of cancer”.

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