NEW DELHI: Vyome Therapeutics Inc, a clinical-stage specialty pharmaceutical company developing novel medicines for treating skin diseases caused by resistant microbes, has raised $22 million finance for studies on treating moderate to severe acne.
The company will primarily use the funds to advance its lead molecule, VB1953, through phase 2 studies for treatment of acne.
“We see this investment as validation of Vyome’s innovative approach to efficient specialty pharmaceutical development and the ability of the company’s scientific platform to help solve the problem of microbial resistance in dermatology,” said Venkateswarlu Nelabhotla, Chief Executive Officer of the company.
The financing was led by Iron Pillar, a venture growth investment fund with locations in Palo Alto and Mumbai.
Mohanjit Jolly, Partner at Iron Pillar, said, “Our advisors, who are dermatology experts in the U.S., are very encouraged by the early clinical efficacy and safety data from studies of VB 1953, and the depth and quality of science around the novel mechanism.”
“We look forward to leveraging our cross-border network and U.S. capital markets experience to support Vyome as it seeks to establish itself as a leading specialty pharmaceuticals company,” he added.