# Eyestem Research Pvt.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/eyestem-research-pvt

- Industry: Biotechnology
- Headquarters: Bangalore, India
- Website: www.eyestem.com
- Total disclosed funding: $6.4M
- Latest round: Series A (Aug 8, 2022)
- Investors on record: 5

## About

Eyestem Research Pvt. Ltd. is an innovative biotechnology firm specializing in cell replacement therapies aimed at treating incurable diseases, particularly in the field of ophthalmology.Founded in 2016 in Bangalore, India, Eyestem Research Pvt. Ltd. focuses on developing transformative cell therapies. The company is co-founded by Jogin Desai, who has extensive experience in the biotech sector. Eyestem has engaged in a Series A funding round in August 2022, raising INR 510 million from investors such as Alkem Laboratories and Biological E. Limited, totaling INR 510 million raised thus far. The company has completed four deals to date, with a current valuation of INR 3,710 million.Eyestem specializes in developing scalable cell replacement therapies, with its lead product, Eyecyte-RPE™, aimed at treating Dry Age-related Macular Degeneration (AMD). This condition affects about 170 million people worldwide, especially those over 60. Eyestem’s products are currently undergoing pivotal efficacy and safety studies at Oregon Health and Science University, with plans for first-in-man studies in 2024. The firm serves healthcare providers, ophthalmology specialists, and patients, offering advanced treatment options for conditions like Dry AMD and targeting markets in North America, Europe, and parts of Asia.In 2024, Eyestem reported a revenue of INR 367,920.1 million and an EBITDA of INR -1,819,360 million. The company’s revenue model relies on partnerships with healthcare institutions and clinical research organizations to promote its product Eyecyte-RPE™, which is expected to enter the market following successful clinical trials.Eyestem plans to leverage the INR 510 million raised in August 2022 to enhance its platform and conduct further clinical trials. The company is focused on launching Eyecyte-RPE™ and aims to expand its presence into new markets, particularly in North America and Europe, by 2025. The recent funding will bolster these initiatives, supporting the company’s commitment to advancing its cell therapy offerings.

## Funding rounds

- Series A, Aug 8, 2022, $6.4M — Kotak Alternate Asset Managers, Natco Pharma Limited, Endiya, Alkem Laboratories, Biological E. Limited

## Investors

- Kotak Alternate Asset Managers (https://capitalatlas.ai/funds/kotak-alternate-asset-managers) — Series A
- Natco Pharma Limited — Series A
- Endiya (https://capitalatlas.ai/funds/endiya) — Series A
- Alkem Laboratories — Series A
- Biological E. Limited — Series A