Vyome Therapeutics raises $22 million in Series D funding led by Iron Pillar
Vyome Therapeutics Inc, a specialty pharmaceutical company, has raised $22 million in a Series D round of funding led by Mumbai-based venture growth fund Iron Pillar.
The round has also seen participation from existing investors including Perceptive Advisors, Romulus Capital and Kalaari Capital.
The fresh capital will be used by Vyome Therapeutics to advance its lead molecule, VB 1953, through phase 2 studies for the treatment of moderate to severe acne and for operations. The company will also use part of the funds for a secondary transaction.
Venkateswarlu Nelabhotla, Chief Executive Officer of Vyome Therapeutics, said, "The closing of Vyome's Series D (round) comes at a transformational time for the company, as we prepare to initiate a phase 2b clinical trial with our lead candidate."
"We see this investment as a 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," he further stated.
Mohanjit Jolly, a partner at Iron Pillar, added, "Vyome is a unique US-India play addressing a large unmet need with products that can leapfrog the competition. We look forward to leveraging our cross-border network and our US capital markets experience to support Vyome as it seeks to establish itself as a leading life sciences technology company."