What Immuneel Therapeutics does

Immuneel Therapeutics is a clinical-stage biotechnology company founded in 2018 in Bengaluru, India, that develops and commercializes cell and gene therapies for cancer treatment. Its lead product is Qartemi (varnimcabtagene autoleucel), an autologous CD19-directed CAR-T cell therapy approved by India's drug regulator (CDSCO) in January 2025 for adult patients with relapsed/refractory B-cell Non-Hodgkin Lymphoma. Qartemi is a second-generation construct with a 4-1BB co-stimulatory domain and a non-FMC63 murine single-chain variable fragment (A3B1 binder), manufactured on the Miltenyi CliniMACS Prodigy closed GMP platform, which delivered a 100% manufacturing success rate during the IMAGINE Phase 2 trial. The therapy is priced at approximately Rs 35-40 lakh per infusion—roughly one-tenth of the $400,000-$500,000 typical in Western markets—and is targeted at India's addressable pool of over 120,000 new blood cancer cases annually.

Immuneel operates a hub-and-node commercial model in which its central manufacturing facility provides products, protocols, and training to partner hospitals equipped with bone marrow transplant units. Named partner hospitals include Narayana Health, Apollo Hospitals, CMC Vellore, and Manipal Hospitals. Because CAR-T therapy is not covered by insurance in India, the company has built a patient-financing layer through partnerships with crowdfunding platform Impact Guru and NBFC lender CarePal Money. Revenue is generated on a per-infusion unit pricing model, with approximately 100 patients expected to have been treated by March 2026, and the company is planning entry into Asia Pacific and Middle East markets.

The technology base was secured through a 2020 exclusive license agreement with Hospital Clínic de Barcelona and IDIBAPS for CD19 CAR-T rights. The company was co-founded by Kiran Mazumdar-Shaw (Executive Chairperson of Biocon Limited), Dr. Siddhartha Mukherjee (oncologist at Columbia University and Pulitzer-winning author), and Kush Parmar (Managing Partner at 5AM Ventures), with a Scientific Advisory Board that includes Prof. Carl June and Prof. Bruce Levine, widely credited as inventors of CAR-T therapy. Immuneel has raised approximately $40 million cumulatively, including a $15M Series A in 2022 (Eight Roads Ventures, True North, F-Prime Capital), a Rs 100 crore (~$12M) Series A extension in July 2024 led by Taiba Middle East FZ LLC at a Rs 587 crore (~$71M) valuation, and an over Rs 100 crore Series B in June 2026 led by Singularity AMC and Rainmatter by Zerodha. The company's most recent strategic moves include a February 2026 partnership with Manas AI for AI-driven drug discovery in next-generation biologics, ADCs, and gene therapies.

Name

Immuneel Therapeutics

Legal name

Immuneel Therapeutics Private Limited

Website

https://immuneel.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

51–100 employees

Short description

Immuneel Therapeutics is a clinical-stage Indian biotechnology company that develops and commercializes autologous CAR-T cell therapies, led by Qartemi, India's first CDSCO-approved CAR-T therapy for relapsed/refractory B-cell Non-Hodgkin Lymphoma, priced at approximately one-tenth of Western costs.

Ownership category

akta.pro rank

Product category

Cell Therapy

NAICS

Biological Product (except Diagnostic) Manufacturing (325414)

SIC

Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

CAR-T & TCR-T Therapies (HLAAABAC)

akta.pro secondary industries

Cell Therapy Developers (Autologous) (HLAAABAA), Cell Therapy Clinical Services & Treatment Centers (apheresis, administration, monitoring) (HLAAABAJ)

Keywords

• CAR-T cell therapy
• Cell therapy manufacturing
• Gene therapy development
• Cancer immunotherapy
• Autologous cell therapy

Headquarters

HQ city

Bengaluru

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Qartemi CAR-T Therapy Sales: One-time treatment for relapsed/refractory B Cell Non-Hodgkin Lymphoma. Autologous CAR-T therapy is manufactured for individual patients and sold to hospitals and directly to patients for administration. The therapy is delivered at approximately Rs 35-40 lakh per infusion.
2. Treatment Financing Services: Partnership with Impact Guru (crowdfunding) and CarePal Money (NBFC lending) to provide financing pathways for patients, addressing high upfront costs barrier.

Pricing tiers

Go-to-market motion3 records

Distribution channels2 records

Marketing channels5 records

Core offering

Immuneel Therapeutics develops and manufactures autologous CAR-T cell therapies for blood cancer treatment, with its flagship product Qartemi (varnimcabtagene autoleucel) approved in India for relapsed/refractory B-cell Non-Hodgkin Lymphoma. The company operates an integrated platform spanning R&D, GMP-grade cell therapy manufacturing, clinical development, and commercial delivery through partner hospitals across India at approximately one-tenth the cost of Western markets.

Product overview

Immuneel Therapeutics is a clinical-stage biotech company developing and commercializing cell and gene therapies, with its primary product being Qartemi (varnimcabtagene autoleucel), an autologous CAR-T cell therapy approved in India for Non-Hodgkin Lymphoma. The company operates an integrated platform encompassing R&D, GMP manufacturing, and clinical trial capabilities, with its Qartemi therapy representing India's first globally-benchmarked CAR T-cell therapy priced at approximately one-tenth of Western costs. The company is also advancing a next-generation pipeline through AI-driven drug discovery partnerships and expanding into international markets across Asia Pacific and the Middle East.

Differentiator

Problem solved

Functional benefit

Brands

• Qartemi: CAR-T cell therapy product (varnimcabtagene autoleucel) for Relapsed/Refractory B Cell Non-Hodgkin Lymphoma. Second generation CD19 CAR T with 4-1BB co-stimulatory domain and A3B1 binder.
• CellSpectrum

Products and services

• Qartemi (varnimcabtagene autoleucel) Autologous second-generation CD19-targeted CAR-T cell therapy for adult patients with relapsed/refractory B-cell Non-Hodgkin Lymphoma who have failed standard lines of treatment. Features a 4-1BB co-stimulatory domain, non-FMC63 murine single chain variable fragment (A3B1 binder), and is administered in fractionated doses (10%, 30%, 60%) across three infusion bags. Manufactured for individual patients using selected CD4 and CD8 T-cells with IL-7 and IL-15 cytokines for higher persistence.

Quantifiable outcome

• 1-year OS, ORR and PFS of varnim-cel are comparable to USFDA approved CAR T products
• +4 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and supporting.

• Manas AIcoreStrategic or Co-development Partner · 10 February 2026Strategic collaboration to explore AI-driven drug discovery techniques for emerging biologics, antibody-drug conjugates, and gene therapies. Combines Manas AI's neuro-symbolic discovery models with Immuneel's R&D, translational science, and GMP-grade biomanufacturing capabilities to establish an end-to-end feedback loop from in silico design through scalable manufacturing.
• Impact GurusupportingOthers · 9 January 2026Partnership with digital crowdfunding platform to enable patients to raise funds through donations from Impact Guru's network of over 50 lakh contributors for CAR-T therapy financing.
• CarePal MoneysupportingOthers · 9 January 2026Partnership with healthcare lending marketplace to provide access to credit by connecting eligible patients with NBFC partners offering loan and financing options for CAR-T therapy costs.
• Hospital Clínic de Barcelona & IDIBAPScoreStrategic or Co-development Partner · 13 October 2020Strategic collaboration and license agreement for CD19 CAR-T technology rights. The collaboration provides Immuneel with exclusive rights to develop and commercialize CAR-T therapy in India via tech transfer from the Spanish institutions.
• Narayana HealthcoreChannel Partner/ Reseller/ DistributorHealthcare partner hospital providing CAR-T therapy treatment services. Strategic location with bone marrow transplant unit.
• Apollo HospitalscoreChannel Partner/ Reseller/ DistributorHealthcare partner hospital providing CAR-T therapy treatment services through Apollo's oncology network.
• Christian Medical College (CMC) VellorecoreChannel Partner/ Reseller/ DistributorHealthcare partner hospital providing CAR-T therapy treatment services. CMC Vellore is a leading medical institution with bone marrow transplant capabilities.
• Manipal HospitalscoreChannel Partner/ Reseller/ DistributorHealthcare partner hospital providing CAR-T therapy treatment services through Manipal's oncology network.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• JW Therapeutics: China-based clinical-stage CAR-T developer that commercialized Relmacabtagene autoleucel (CD19 CAR-T) for R/R B-NHL. Closest direct peer to Immuneel in Asian emerging markets, with comparable autologous CD19 platform, hospital-based delivery, and emerging-market regulatory pathway.
• CARsgen Therapeutics: China-based CAR-T developer with multiple approved products (e.g., zevorcabtagene autoleucel for multiple myeloma) and pipeline across hematologic and solid tumors. Comparable autologous CAR-T platform with focus on Asian markets and pricing optimized for cost-sensitive regions.
• Gracell Biotechnologies: China-based autologous CAR-T developer (FasTCAR platform) acquired by AstraZeneca. Develops CAR-T therapies for hematologic malignancies with a focus on faster manufacturing — directly comparable to Immuneel's autologous CAR-T platform and emerging-market commercialization strategy.
• Fosun Kite (复星凯特): Joint venture between Fosun Pharma and Gilead's Kite that localized Yescarta manufacturing and commercialization in China. Comparable to Immuneel as an emerging-market CAR-T distributor that adapted a Western-approved therapy for local regulatory and pricing realities.

Broad incumbents

• Novartis: Global pharma and originator of Kymriah, the first FDA-approved CAR-T therapy (CD19). A broad incumbent in the CAR-T space with a significantly larger portfolio and global reach; Immuneel competes indirectly by offering a locally-priced alternative to Kymriah in India and select Asian markets.
• Gilead Sciences (Kite Pharma): Global biopharma with Kite Pharma CAR-T franchise (Yescarta, Tecartus). Broad incumbent in the autologous CD19 CAR-T market; competes with Immuneel's Qartemi at the global level and via its Fosun Kite JV in Asia.
• Bristol Myers Squibb: Global pharma with CAR-T franchise Breyanzi (CD19) and Abecma (BCMA). Broad incumbent across multiple CAR-T indications; potential competitor as it expands into emerging markets, particularly for hematologic malignancies that overlap with Immuneel's pipeline.

Emerging players

• Allogene Therapeutics: Clinical-stage allogeneic ("off-the-shelf") CAR-T developer focused on scalable, lower-cost cell therapy. An emerging player with potential to disrupt the autologous CAR-T model that Immuneel currently operates in; relevant comparator for Immuneel's longer-term pipeline direction.
• Cellectis: Clinical-stage gene-editing and allogeneic CAR-T/TCR-T developer. Emerging player in the next-generation cell therapy space; comparable as a peer pursuing gene-edited cell therapies with potentially improved manufacturing economics versus autologous platforms.

Others

• Vor Biopharma: Clinical-stage cell therapy company co-founded by Siddhartha Mukherjee (Immuneel's scientific co-founder). Adjacent thematic peer in engineered cell therapy for hematologic malignancies, with shared scientific leadership rather than direct product overlap.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCQfj4rqWkbMuJVInM6cN7DQ
• LinkedInlinkedin.com/company/immuneel-therapeutics-private-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds5 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Immuneel Therapeutics