Kotak Alternate Asset Managers Ltd has invested in Cellogen Therapeutics, a biotechnology firm focussed on cell and gene therapies.
Kotak Alts has invested Rs 20 crore ($2 million) in the biotech firm through its early- to growth-stage healthcare vehicle Kotak Life Sciences Fund I, according to a statement on Monday.
Founded in 2021 and led by Gaurav Kharya and Tanveer Ahmad, Cellogen Therapeutics works in advanced cellular engineering and gene therapy. Backed by NATCO Pharma, the company focuses on next‑generation CAR‑T therapies, while also building early‑stage programmes for beta thalassemia and sickle cell disease. Its lead asset is a bispecific, dual‑antigen CAR‑T therapy aimed at reducing relapse, a key challenge with current treatments for blood cancers and genetic disorders.
Cellogen will use the fresh capital to advance its CAR‑T clinical programmes, expand the gene therapy pipeline, and strengthen its GMP‑compliant manufacturing and regulatory capabilities.
“India carries a high burden of blood cancers and genetic blood disorders, yet access to advanced therapies such as CAR‑T and gene therapy remains limited, largely due to cost," said Ashish Ranjan, director at Kotak Alts. "Cellogen is working to address this gap through an indigenous, IP‑led platform that brings together next‑generation science and cost‑efficient development."
Founded in early 2005, Kotak Alts manages over $22 billion across asset classes, including private equity, real estate, infrastructure, special situations, private credit, and investment advisory.
It marked the first close of its third healthcare- and life sciences-focussed private equity fund in January last year after raising Rs 250 crore from family offices, ultra-high-net-worth individuals (UHNIs), industry veterans, and institutions. The firm is deploying capital from this fund and has already backed companies such as Mediversal Healthcare and Zeroharm Sciences.
Kotak Alts had raised its first life sciences-focussed fund, Kotak India Venture Fund I, in 2007. It invested in five companies across the biotechnology and pharmaceutical sectors. These were Intas Pharmaceuticals Ltd, Advanced Enzyme Technologies Ltd, Rubicon Research Pvt Ltd, Natco Pharma Ltd, and wellness firm Indus Biotech Pvt Ltd.
The second fund, launched in 2017 with a target corpus of Rs 500 crore ($68 million then), invested in more than a dozen companies.
