Eyestem
Eyestem is a Bengaluru-based, clinical-stage cell therapy company developing allogeneic, iPSC-derived off-the-shelf cell replacement therapies, with lead product Eyecyte-RPE now in Phase 2 trials for Dry AMD.
- Company typePrivate
- Founded2016
- HeadquartersBengaluru, India
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What Eyestem does
Eyestem Research Private Limited, founded in 2016 and headquartered at C-CAMP in Bengaluru, is a clinical-stage biotechnology company developing allogeneic, iPSC-derived cell replacement therapies for currently incurable degenerative diseases. Its proprietary platform generates cryopreserved, off-the-shelf cell suspensions (RPE, photoreceptor progenitors, lung epithelium, neural progenitors) designed for scalable manufacturing and distribution, with an explicit mission to democratize access at a fraction of Western cell therapy pricing. The lead product, Eyecyte-RPE, is a patented retinal pigment epithelium cell suspension for Geographic Atrophy secondary to Dry AMD; Phase 1 in 9 subjects completed safely with average 14.9–15.8 ETDRS letter vision gains, and CDSCO Phase 2 approval was received in January 2026 across three Indian trial sites. The pipeline extends to Eyecyte-PRP (Retinitis Pigmentosa, preclinical with NIMHANS/JNU collaboration), Aircyte-AEC (Idiopathic Pulmonary Fibrosis with InStem collaboration), iPSC-derived neural progenitor cells (Parkinson's), and an AAV-mediated gene augmentation platform for inherited retinal dystrophies including LCA13 and Stargardt Disease.
The business is pre-revenue. Eyestem generates no product revenue today and is funded by a combination of venture capital (~$16M+ across 2019–2025 rounds from Jacesa, Kotak PE, Endiya, Biological E, Alkem, NATCO, and Kemwell promoters), Indian government grants (BIRAC BIG, BIPP, C-CAMP SEED, and INR 50 crore RDIF in 2026), and licensing/royalty arrangements. A modest transactional revenue stream exists through the Global Research Alliance, which sells WCB-iPSC, WCB-GFP iPSC, Eyecyte-RPE, and Eyecyte-PRP cell lines to academic and pharmaceutical researchers worldwide, but transaction volumes are not disclosed and the stream is incidental to the core clinical mission. Go-to-market is institutional: clinical trial execution via AIIMS, LVPEI, and Shri Ganpati Nethralaya in India; planned US Phase 2 entry via the Delaware entity in H1 2026; and Singapore collaboration via SERI/NUHS. Pricing of cell therapy products has not been publicly disclosed; management benchmarks its vision against the >$200,000 Western cell and gene therapy price point.
Eyestem firmographics
Firmographics- Name
- Eyestem
- Legal name
- Eyestem Research Private Limited
- Website
- https://eyestem.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Eyestem is a Bengaluru-based, clinical-stage cell therapy company developing allogeneic, iPSC-derived off-the-shelf cell replacement therapies, with lead product Eyecyte-RPE now in Phase 2 trials for Dry AMD.
- Ownership category
- akta.pro rank
Eyestem industry classification
Industry- Product category
- Cell Therapy
- NAICS
- Research and Development in Biotechnology (except Nanobiotechnology) (541714), Ophthalmic Goods Manufacturing (339115), Scientific Research and Development Services (5417)
- SIC
- Biological Products, (No Disgnostic Substances) (2836), Services-Commercial Physical & Biological Research (8731)
- akta.pro primary industry
- Stem Cell–Based Regenerative Therapies (HLAAAGAA)
- akta.pro secondary industries
- Ophthalmology Pharmaceuticals (HLAIAAAL), Rare Ophthalmology Disorder Therapies (HLAIAIAK), Ophthalmology Gene Therapies (HLAAACAG)
Keywords
Where Eyestem is headquartered
LocationHeadquarters
- HQ city
- Bengaluru
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
Eyestem business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Cell Therapy Product Revenue: Pre-revenue clinical-stage biotech. Eyecyte-RPE is the lead product in Phase 2 trials. Revenue is expected upon regulatory approval and commercialization of its cell therapy pipeline (Dry AMD, Retinitis Pigmentosa, Idiopathic Pulmonary Fibrosis).
- Cell Line Research Reagent Sales: Eyestem sells iPSC-derived cell lines (WCB-iPSC, WCB-GFP iPSC, Eyecyte-RPE, Eyecyte-PRP immortalized) to external researchers through its Global Access / Research Alliance Program.
- Licensing Royalties: Platform technology and patents are licensed to pharmaceutical partners and research institutions. Licensing arrangement with IPS for iPSC stem cell patents and Kemwell Biopharma for GMP manufacturing collaboration.
Go-to-market motion1 record
Distribution channels4 records
Marketing channels6 records
Eyestem product offering
Product offeringCore offering
Eyestem develops allogeneic, iPSC-derived cell therapy products as off-the-shelf, cryopreserved cell suspensions targeting incurable degenerative diseases. Its lead product Eyecyte-RPE is a retinal pigment epithelium cell suspension for Dry Age-Related Macular Degeneration currently in Phase 2 trials after successful Phase 1 completion. The company also sells iPSC-derived research cell lines (WCB-iPSC, WCB-GFP iPSC, Eyecyte-PRP immortalized) to academic and pharmaceutical researchers through its Global Research Alliance program.
Product overview
Eyestem is a cell therapy company operating a scalable cell replacement therapy platform. The company's lead product is Eyecyte-RPE, a cryopreserved allogeneic RPE cell suspension for geographic atrophy secondary to Dry AMD, currently in Phase 2 clinical trials after successful Phase 1 completion. The pipeline includes Eyecyte-PRP for retinitis pigmentosa, Aircyte-AEC for idiopathic pulmonary fibrosis, Neural Progenitor Cells for Parkinson's disease, and an AAV-mediated gene augmentation platform for inherited retinal dystrophies. Eyestem also offers research cell lines (WCB-iPSC, WCB-GFP iPSC, Eyecyte-PRP immortalized) through its Global Access Program for supporting external research.
Differentiator
Problem solved
Functional benefit
Brands
- Eyecyte-RPE: Flaghship product - a patented suspension of retinal pigment epithelium cells for treatment of Dry Age-Related Macular Degeneration (Dry AMD) and Geographic Atrophy. Derived from induced pluripotent stem cells (hiPSCs), allogeneic, scalable and can be stored as frozen vial for long periods.
- Eyecyte-PRP
- Aircyte-AEC
- Neural Progenitor Cells
Products and services
- Eyecyte-RPE A proprietary cryopreserved, allogeneic retinal pigment epithelium (RPE) cell suspension derived from human induced pluripotent stem cells (hiPSCs) for treatment of geographic atrophy secondary to dry age-related macular degeneration (Dry AMD). Currently in Phase 2 clinical trials after successful Phase 1 completion showing 14.9-15.8 letter improvement in visual acuity.
- Eyecyte-PRP
Quantifiable outcome
- Average 14.9–15.8 letter improvement in ETDRS visual acuity in first 6 Phase 1 patients over 4–6 months post-transplantation
- +4 more outcomes
Companies that use Eyestem
Customer profileNamed customers3 records
Segments6 records
Ideal customer profiles3 records
Eyestem technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature7 records
Eyestem partnerships and signals
Strategic signalPartnerships
14 partnerships are on record, tiered supporting and core.
- Purdue UniversitysupportingCollaboration on modelling inherited retinal disorders with complex mutations and developing a high-throughput drug screening platform. Prof. Ramaswamy Subramanian serves as Eyestem's scientific advisor (Director, Bindley Bioscience Center, Purdue). Dr. Yashdeep Phanse trained at Gamm lab, UW-Madison, and joined Eyestem.
- CCMB (CSIR-Centre for Cellular and Molecular Biology)supportingPublic-private collaboration during COVID-19 pandemic. CCMB used Eyestem's Anti-Covid Screening (ACS) platform — iPSC-derived lung epithelial cells expressing ACE2/TMPRSS2 — for SARS-CoV-2 drug screening and vaccine development research. Led by Dr. Krishnan Harshan's team at CCMB.
- NIH (National Institutes of Health)coreNIH provides Eyestem access to clinical-grade iPSC lines to facilitate global acceptability of its cell therapy products. Access to NIH-distributed iPSC lines (via RUCDR Infinite Biologics) supports Eyestem's manufacturing quality standards.
- Singapore Eye Research Institute / NUHScoreCollaboration linked with Singapore Eye Research Institute (NUHS) for geographic expansion of Eyecyte-RPE clinical program. SERI validation of injection technique and dose finding studies done in advanced animal models. Dr. Su Xinyi serves as scientific advisor.
- Oregon Health and Science University (Casey Eye Institute)coreAnimal efficacy and safety studies conducted at Casey Eye Institute, OHSU under Dr. Renee Ryals. Dose-ranging studies in RCS rats and primate models validated Eyecyte-RPE's safety and efficacy. Dr. Trevor McGill provided initial POC results in 2019. Results published and validated.
- LV Prasad Eye Institute (LVPEI)corePartnership for manufacturing validation, preclinical studies, and first-in-human clinical trials for Eyecyte-RPE. LVPEI surgeons (Dr. Raja Narayanan, Dr. Vivek Dave) are key clinical trial investigators in the Phase 1/2 study. LVPEI is a premier eye care institution in India.
- Kemwell BiopharmacoreKemwell Biopharma serves as GMP manufacturer of choice for Eyestem's clinical-grade cell therapy products. Promoters of Kemwell (Anurag and Karan Bagaria) are also Series A investors. Kemwell is described as GMP manufacturer of choice for several top-ten pharma companies globally.
- IPS (ips-cell.net)supportingLicensing arrangement to access foundational iPSC stem cell patents from IPS, enabling Eyestem's use of integration-free reprogramming technology (Yamanaka factors) for commercial product development.
- Dabur Research Foundation (DRF)supportingDevelopment agreement with DRF — India's premier Contract Research Organization — for GLP toxicology studies required for IND filing. DRF conducted robust GLP toxicology data supporting CDSCO IND submission.
- Cytespace ResearchsupportingDevelopment agreement with Cytespace Research for clinical trial management and go-to-market strategy. Dr. Ferzaan Engineer, Cytespace Founder, is a board member and investor.
- NIMHANS (National Institute of Mental Health and Neurosciences)supportingCollaboration agreement with NIMHANS for research on Neural Progenitor Cells for treatment of neurodegenerative diseases, including Parkinson's Disease. Eyestem working with NIMHANS on iPSC-derived dopaminergic neuronal progenitor safety and efficacy studies.
- Jawaharlal Nehru University (JNU)supportingCollaboration agreement for safety and efficacy studies using iPSC-derived dopaminergic neuronal progenitors in rodent models of Parkinson's Disease.
- InStem (Institute for Stem Cell and Regenerative Medicine)supportingCollaboration to study whether exogenous lineage-traced lung progenitor cells contribute toward repair of fibrotic lung in mouse models, supporting the Aircyte-AEC program for Idiopathic Pulmonary Fibrosis.
- Ora ClinicalsupportingWorld's leading ophthalmology Contract Research Organization. Ora Clinical created Eyestem's regulatory roadmap for FDA engagement and supported the successful pre-IND meeting with the FDA (February 2020).
Scale indicators9 records
Recent moves6 records
Expansion highlights6 records
Eyestem competitors and assessment
Company assessmentDirect peers
- Lineage Cell Therapeutics: US-based clinical-stage cell therapy company developing OpRegen, an allogeneic RPE cell therapy for Dry AMD/Geographic Atrophy — directly competing with Eyestem's Eyecyte-RPE in the same indication, same modality, and similar trial stage.
- FUJIFILM Cellular Dynamics: A global leader in iPSC-derived cell products including RPE cells for ophthalmic research and therapeutic applications, with extensive GMP iPSC manufacturing capability — directly comparable technology platform to Eyestem's.
- BlueRock Therapeutics (Bayer): Bayer-owned clinical-stage cell therapy company developing iPSC-derived cell therapies for multiple indications — directly comparable iPSC-derived allogeneic platform with pharma-scale backing.
Broad incumbents
- Astellas Pharma: Japanese pharma major that acquired Universal Cells to build an iPSC-derived allogeneic cell therapy platform — a broad incumbent developing comparable regenerative medicine programs with deeper capital and global commercial reach.
- Regeneron Pharmaceuticals: Major ophthalmology player with Eylea (anti-VEGF) franchise for wet AMD — a broad incumbent in retinal disease therapeutics whose strategic interest in Dry AMD cell therapy could compete with or complement Eyestem's positioning.
- Roche / Genentech: Global pharma leader with major ophthalmology presence (Lucentis, Vabysmo) — broad incumbent with deep capital and ophthalmology commercial infrastructure that represents both a potential partner and a competitive threat for Eyestem.
Emerging players
- Fate Therapeutics: US clinical-stage biotech developing iPSC-derived off-the-shelf NK and T-cell cancer immunotherapies — comparable iPSC platform and allogeneic product strategy, though focused on oncology rather than regenerative medicine.
- Century Therapeutics: US clinical-stage biotech developing allogeneic iPSC-derived immune cell therapies for cancer — comparable iPSC platform approach with similar clinical-stage profile and platform-leverage thesis.
- Capricor Therapeutics: US clinical-stage biotech developing cell therapy products (dermato- and cardi-derived) — comparable late-preclinical/early-clinical cell therapy biotech profile with similar funding-stage characteristics.
Regional players
- Stempeutics Research: Bangalore-based cell therapy company developing stem cell therapies for multiple indications — Indian regional peer with comparable geography, similar clinical-stage profile, and overlapping regenerative medicine focus.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Eyestem social profiles
Digital presenceEyestem financial estimates
Financial estimateRevenue estimate
Valuation estimate
Eyestem leadership team
Management profileNumber of profiles
Profiles6 records
Eyestem funding detail
Funding detailFunding overview
Funding rounds4 records
Investors8 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Eyestem M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Eyestem
What does Eyestem do?
Eyestem develops allogeneic, iPSC-derived cell therapy products as off-the-shelf, cryopreserved cell suspensions targeting incurable degenerative diseases. Its lead product Eyecyte-RPE is a retinal pigment epithelium cell suspension for Dry Age-Related Macular Degeneration currently in Phase 2 trials after successful Phase 1 completion. The company also sells iPSC-derived research cell lines (WCB-iPSC, WCB-GFP iPSC, Eyecyte-PRP immortalized) to academic and pharmaceutical researchers through its Global Research Alliance program.
Is Eyestem a public or private company?
Eyestem is a private company. It is classified as venture growth investor backed and is currently operating.
When was Eyestem founded?
Eyestem was founded in 2016. It employs 11 to 50 people.
Where is Eyestem based?
Eyestem is headquartered in Bengaluru, India, in the Asia region.
How does Eyestem make money?
Three revenue lines are on record. Cell Therapy Product Revenue is the primary driver. The others are cell Line Research Reagent Sales and licensing Royalties.
Who are Eyestem's main competitors?
Direct peers on record are Lineage Cell Therapeutics, FUJIFILM Cellular Dynamics and BlueRock Therapeutics (Bayer). Broad incumbents are Astellas Pharma, Regeneron Pharmaceuticals and Roche / Genentech. Emerging players are Fate Therapeutics, Century Therapeutics and Capricor Therapeutics. Stempeutics Research is listed as a regional player.
Does Eyestem have an API?
No public API is recorded for Eyestem.
What industry is Eyestem in?
Eyestem's product category is Cell Therapy. Its primary akta.pro industry code is HLAAAGAA, Stem Cell–Based Regenerative Therapies, with a secondary code of HLAIAAAL, Ophthalmology Pharmaceuticals. Its NAICS code is 541714 and its SIC code is 2836.