Bhubaneswar-based biotech startup Exsure has raised Rs 3 crore in a seed round led by Unicorn India Ventures. The funds will help Exsure achieve key milestones in the non-clinical study of its exosome-based drug delivery vehicle and support its global expansion. This funding includes promoting its in-house R&D products, such as Exosure, Leucosure, PlantExosure, and Dr Berries.
Founded in 2021 by Swastika Paul and Abhishek Dutta, Exsure focuses on reducing anti-cancer drug’s side effects and toxicity using its patented exosomal drug delivery platform. This platform targets both cancer and cancer stem cells, aiming to minimize chemotherapy’s toxic effects and reduce the likelihood of cancer relapse, ultimately improving the quality of life for cancer patients.
Over the past year, Exsure has initiated a non-clinical study in collaboration with a Contract Research Organization (CRO) in India. Its patented technology has achieved a significant milestone in preclinical research. The company reported a fivefold growth last fiscal year and is on track to serve over 50 clients this year with its R&D products, including Exosure(3-in-1 exosome isolation reagent), Leucosure (PBMC isolation reagent), and PlantExosure(India’s first plant exosome isolation reagent). Japan’s OIST Innovation Accelerator program has selected Exsure to support its business expansion and clinical trial efforts.
Regarding the investment, Bhaskar Majumdar, Managing Partner Unicorn India Ventures, says, “The fear of Big C is real not just for the patients but their families. Exsure, with its advancement in scientific tools, technology and cutting-edge medical research, has built a powerful exosome-based drug that commits to staying at the forefront of advancement in therapeutics science. The funding accelerates Exsure’s mission to deploy solutions at a global level. We believe Exsure will continue to sustain its momentum and grow due to its potential for transformative breakthroughs through its nano-delivery platform. The company has witnessed remarkable progress in the last 12 months and has launched more innovative products. Hence, we believe the huge market opportunity and the company has built the right momentum to capitalize on this segment.”
Over the next 12 months, Exsure aims to complete its non-clinical study and focus on team expansion. The company also plans to submit its data for CDSCO approval, grow its team size, and scale up its global product marketing and sales efforts.
Swastika Paul, CSO & Co-founder of Exsure, says, “During our PhD journey, we witnessed the toxicity of the present-day chemotherapy drugs and how 13% of the in-treatment cancer patients die due to toxicity of the chemotherapy drugs. Exsure is on a mission to reduce the toxicity of the chemotherapy drugs and make them more targeted to the cancerous cells. Our vision is to empower millions of cancer patients around the world and improve their quality of life.”
Exsure has introduced its first in-house manufactured products and established collaborations and partnerships across India for its offerings. Additionally, the company has signed agreements with distributors to expand its product market globally.
The India Brand Equity Foundation (IBEF) projects that the Indian biotechnology industry will reach $150 billion by 2025 and potentially grow to $270-300 billion by 2030. It expects India’s share in the global biotechnology market to increase to 19% by 2025, offering Exsure significant growth opportunities.
