BENGALURU: Leading industrialist and Chairman Emeritus of Tata Sons’, Ratan Tata has invested in next generation cancer therapeutic startup Invictus Oncology. The company is based out of New Delhi and is engaged in developing more effective and less toxic next generation cancer therapeutics. The details of Tata's investment in the company were, however, not disclosed in the announcement made by Invictus Oncology, reports Biswaroop Gooptu, The Economic Times.

"I have admired Ratan Tata's insights and astute assessment of technology for decades now, So I am thrilled he has invested in Invictus, which is not just developing groundbreaking innovations for cancer treatment, but is also among the very first startups based out of India to tread the path of novel discovery and biotech innovation," said Raghunath A. Mashelkar, Co-founder, Invictus Oncology.

This is Tata’s fifth investment in 2016 that follows recent investments startup research platform Tracxn, pet care portal DogSpot, baby and maternity care online retailer FirstCry, and cashback and coupons venture, CashKaro. All the previous four investments were made in the month of January. Tata’s investment is part of the first close of Invictus's Series A round of funding, joining existing investors Navam Capital and Aarin Capital. The funding will advance its lead molecule Phase I clinical studies, and will aid in filing a second Investigational New Drug (IND) application. It was also reported that Invictus had raised nearly Rs 10.5 crore in a round led by the aforementioned VC firms in 2013.

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