Invictus will use the money to advance its lead molecule to completion of Phase I clinical studies, and to file a second investigational new drug (IND) application, milestones which translate into substantial value inflections for Invictus Oncology over the next 12-18 months.
“I have admired Ratan Tata’s insights and astute assessment of technology for decades now, So I am thrilled he has invested in Invictus, which is not just developing ground-breaking innovations for cancer treatment, but is also among the very first startups based out of India to tread the path of novel discovery and biotech innovation,” said Raghunath A. Mashelkar, co-founder, Invictus.
“We are getting excellent traction from investors, both from India and outside,” said Shiladitya Sengupta, co-founder, Invictus and assistant professor of medicine at Harvard Medical School.
Founded by Shiladitya Sengupta, Padma Vibhushan and Raghunath A. Mashelkar, Invictus focuses on the development of novel therapeutics for cancer treatment.
For Tata, this is the seventh known investment in the year. The others include Teabox, a Darjeeling-based online tea retailer; Dogspot.in, an online pet care shop; babycare products retailer FirstCry; Moglix, an online marketplace for business and industrial supplies and coupons site CashKaro.
After stepping down from an active role in Tata Group, Ratan Tata has become an influential investor in Indian as well as international startups. Last year, he made around 18 investments across different sectors.
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