Singapore-based BioTech firm AUM Biosciences has recently raised US$27 million in Series A funding round led by a Southeast Asian medical device distribution platform, Everlife along with participation from a global health sciences investment firm, SPRIM Global Investment.
AUM Biosciences will use the fresh capital to accelerate its business growth and pipeline expansion. The startup will focus on advancing clinical growth of its portfolio with instant initiation of two phase-II programs for TRK and MNK inhibitors.
In a statement Vishal Doshi CEO and Co-founder AUM Biosciences said, “We are excited about the next phase of growth and value creation. Our blue-chip founders and leaders are proud to have the confidence of and support from Everlife and SPRIM Global Investments. These proven investors share our enthusiasm for developing new therapies for patients who have high unmet needs.”
Harish Dave, CMO and co-founder, AUM Biosciences who is gearing up to lead the next phase of this growth journey, expressed, “We are thrilled to see our vision taking root, and the strong support from Everlife and SPRIM Global Investments will certainly accelerate our innovation plans, globally. The synergy in our vision to support the cancer patients with better targeted therapies, has laid the foundation of this association and investment.”
About AUM Biosciences
With strategic collaborations with biotech and pharmaceutical companies and various academic institutions globally, AUM Biosciences is now leading an ecosystem of a multi-modality line-up of small molecule targeted therapies.
AUM Biosciences has collaborated with Newsoara Biopharma earlier this year and has announced a five-year transformational strategic partnership to co-discover and co-develop next-generation cancer therapies in line with its aim to expand and diversify its medical portfolio. The startup also collaborated with CMG Pharmaceutical Co. Ltd. and Handok Inc this year.
Founded in 2018, AUM Biosciences is an oncology-focused biotech startup that aims to accelerate the development of innovative and affordable medicines for patients in Asia and across the globe, particularly for cancers. The firm focuses on enabling a holistic strategy for drug development and improving the probability of success with a focus on sustainability, synergism, and scalability.
Dr. Arjun Oberoi, Executive Chairman, Everlife said, “AUM’s unique portfolio holds great promise to address multiple unmet needs in the field of oncology. Everlife has a strong inclination in expanding its presence in the cancer diagnostic arena. This collaboration will help position us more strongly in the overall oncology ecosystem and grants us immediate access to AUM’s network of research laboratories and those of its partners in Southeast Asia”.