Ms Kavitha Iyer Rodrigues and Mr Sohang Chatterjee
Prior to this, Ms Kavitha and Mr Sohang had jointly cofounded the biotech start-up Inbiopro in 2007, which was acquired by Strides Arcolab in 2010.
A new beginning
"After we exited Strides as founders of Inbiopro in 2012," comments Mr Sohang, "we realized that our own biotech journey was incomplete. We wanted to see our products reach the end-users, and do a lot more than churn out me-too products. Hence we decided to focus on R&D platforms that can lead us to biobetters and ultimately in to new therapeutic drugs."
"Since the cost of taking a biobetter to market is much higher than biosimilars and competes with the innovators' products, we had to think global, by partnering with large multinationals with established presence in the regulated market as well," he adds.
Investments and capital
During Theramyt's inception, the founders invested personal capital and raised a Series A for Rs 27.6 crore from venture capitalists including Accel Partners, IDG Ventures, Aarin Capital and KITVEN (Karnataka Information Technology Venture Capital Fund).
With over $100 billion worth of biologics going off-patent by 2020, the biosimilar market is estimated to be at least $12 billion by then.