The Venture Codex

Participated · Series B · Oct 2025

Founded in 2015 by Jogin Desai, Rajani Battu, and Rajarshi Pal, Eyestem is focused on cell replacement therapies for retinal disorders. Its lead candidate, Eyecyte-RPE, aims to treat dry age-related macular degeneration by using retinal pigment epithelium cells derived from human stem cells to restore damaged retinal tissue. The company remains in the pre-revenue stage and generated Rs 2.92 crore in non-operating income during FY24 while reporting a net loss of Rs 12.18 crore. Post-money, Eyestem’s valuation has risen roughly 70% to Rs 592 crore (about $67 million). To date, the firm has raised roughly $20 million, including a $6.4 million Series A in August 2022. Major external shareholders now include Jacesa Investments (12.5%), Cytespace (9.64%), and Endiya Partners (7.12%), while the co-founders collectively hold 21.19%. The fresh capital is expected to advance clinical development and expand the company’s pipeline of regenerative eye treatments.

Participated · Series D · Sep 2024

eGenesis is a biotechnology company developing human-compatible engineered organs to address the global organ shortage. Its lead product candidate, the donor kidney EGEN-2784, carries three classes of genome edits: knockout of glycan-antigen synthesis genes, insertion of seven human transgenes to modulate rejection pathways, and inactivation of endogenous porcine retroviruses. The company’s EGEN genome engineering and production platform aims to comprehensively address cross-species molecular incompatibilities and viral risk. Proceeds from the $191 million Series D will be used to advance EGEN-2784 to a first-in-human kidney transplant study, advance pipeline programs (including acute liver failure and heart transplant), and scale production. In March 2024 eGenesis announced the world’s first successful porcine kidney transplant in a living patient under an FDA Expanded Access authorization, performed at Massachusetts General Hospital. The company says it is the only firm developing organs that carry all three classes of edits to address organ safety and efficacy. eGenesis develops human-compatible organs, tissues, and cells using gene-editing and genome-engineering to address barriers to xenotransplantation. The company harnesses gene editing technologies to make organs safe and effective for patients in need. Its development pipeline includes lead programs for kidney and islet cell transplants and earlier-stage programs targeting other solid organs. eGenesis intends to use its Series C proceeds to bring lead kidney and islet programs into human proof-of-concept studies, continue development of its proprietary gene-editing platform, and scale GMP production. The company is led by Paul Sekhri, President and Chief Executive Officer. Financially, eGenesis completed a $125m Series C financing in February 2021. eGenesis develops human-compatible organs using gene editing technologies such as CRISPR to overcome virology and immunology hurdles that have impeded xenotransplantation. The company is advancing an initial kidney product toward the clinic while pursuing programs in islet cell, liver, heart, and lung. It intends to use new funding to accelerate its kidney xenotransplant program into the clinic and to support advancement of other xenotransplant programs. eGenesis positions xenotransplantation as a potential solution for a broader organ recipient population and to expand applicability into areas such as cell therapy. The company is led by president and CEO Paul Sekhri and is based in Cambridge, Massachusetts. eGenesis completed a $100M Series B financing to support these efforts. eGenesis uses a CRISPR-based genome editing platform to engineer pig cells and organs intended for safe and effective human transplantation. The company’s core approach includes genomic engineering of pig cells, organ maturation, and eventual organ transplantation. eGenesis positions xenotransplantation as a solution to the severe shortage of transplantable human organs and aims to make it a routine lifesaving medical procedure. Its scientific team includes co-founder and CSO Luhan Yang and Harvard geneticist George Church, plus multiple scientists from Harvard with expertise in genome editing, synthetic biology, and transgenic animals. The company is in early stages of development and is advancing its platform toward delivering transplantable cells, tissues and organs. eGenesis announced a recent financing to support these development efforts.

Led · Equity · Jan 2024

Cellogen Therapeutics is an Indian biotech founded in 2021 that focuses on developing cell and gene therapies using Chimeric Antigen Receptor T‑cell (CAR‑T) technology. Its lead product is a bispecific, dual‑antigen CAR‑T therapy designed to target two cancer markers to potentially reduce relapse risk. The company operates a GMP‑compliant manufacturing facility in Noida with in‑house CAR design and lentiviral vector manufacturing capabilities and has been granted a patent for its CAR‑T platform. Cellogen says it uses AI‑driven platforms in its design and development processes and is developing early‑stage programmes for beta thalassemia and sickle cell disease. It is preparing for Phase I human clinical trials in collaboration with Christian Medical College Vellore, subject to regulatory approvals. The company recently raised Rs 20 crore from Kotak Alts and previously sold a 5.38% stake to Natco Pharma for a little over Rs 15 crore.