Hyderabad: Two alumni of the University of Hyderabad (UoH) have announced a major biotech investment initiative through their alumni-led Whale Tank Biocatalyst Fund. Dr Uday Saxena and Dr Markandeya Gorantla, co-founders of the fund, signed a term sheet to invest over USD 1.5 million in Utopia Therapeutics Pvt. Ltd., an early-stage deep-tech biotech startup.
The announcement was made at the BIO International Convention 2025 held in Boston on June 19, in the presence of key government and industry leaders, including Dr Jitendra Kumar, MD of BIRAC, and representatives from ABLE and the Department of Biotechnology (DBT).
The Whale Tank Biocatalyst Fund, which works in partnership with the Federation of Asian Biotech Associations (FABA), is supported by Prof. Reddanna Pallu and Dr Ratnakar Palakodeti. The fund aims to support translational biotech ventures with global potential.
The investment in Utopia Therapeutics will go toward the development of UT009, a novel vaccine candidate targeting obesity and Non-Alcoholic Fatty Liver Disease (NAFLD). The funding will also help advance the startup’s UT18-based regenerative health pipeline and support expansion in manufacturing and market outreach.