The term sheet was signed in the presence of senior officials from BIRAC, the department of biotechnology, and industry representatives.
Hyderabad:A Hyderabad-founded investment biotech fund co-founded by two alumni of the University of Hyderabad (UoH) has entered into a funding partnership with a deep-tech start-up developing a first-of-its-kind vaccine for obesity and fatty liver disease.
The Whale Tank Biocatalyst Fund, co-founded by Dr Uday Saxena and Dr Markandeya Gorantla, announced a funding commitment of over $1.5 million to Utopia Therapeutics Pvt. Ltd at the BIO International Convention in Boston. The term sheet was signed in the presence of senior officials from BIRAC, the department of biotechnology, and industry representatives.
The investment will support the clinical development of UT009, Utopia’s vaccine candidate against metabolic disorders, and expand the company’s UT18-based regenerative health pipeline. Utopia is among a handful of Indian startups attempting to build globally competitive biotech products for diseases traditionally underserved in the pharmaceutical space. The fund is also investing in manufacturing and infrastructure for Utopia’s product line.
“This partnership reflects the strength of India’s translational biotech ecosystem. A vaccine for metabolic disorders and a regenerative product pipeline coming out of India and entering global markets demonstrates the scientific depth and entrepreneurial maturity that BIRAC has consistently fostered,” said Dr Jitendra Kumar, managing director of BIRAC. He described the progression as an example of investor-led continuity in translational science.
Dr Saxena, who also co-founded Utopia Therapeutics, added, “The UT18 platform has shown multi-tissue regenerative potential.”
Whale Tank Biocatalyst Fund, supported by FABA and advised by Prof. Reddanna Pallu and Dr Ratnakar Palakodeti, is focused on early-stage biotech and deep-tech start-ups. Its growing portfolio spans agriculture, nutrition, oncology, and biocontrol solutions. These include ATGC Biotech, GreeSynZyme, Revelations Biotech, Bharat Advanced Therapeutics, ATREVA, NexaSweet, and AACT Inc., each contributing to different sectors ranging from green chemistry to affordable precision medicine.
