Ranjan Pai Fund Bets $20 Million on Pinwheel's Anticoagulant Reversal Drug

Pinwheel Therapeutics, a US-based clinical-stage biopharmaceutical company, has received a $20 million investment from 108 BioCapital, a private equity fund backed by Indian-American entrepreneurs including Ranjan Pai, CMD of the Manipal Group. The capital injection aims to accelerate the mid-stage (Phase 2b) clinical development of Ciraparantag, a novel small molecule designed as a universal reversal agent for emergency anticoagulation management in hospitals and acute-care settings.

Ciraparantag, developed through simple peptide chemistry, is being positioned as a next-generation option to rapidly reverse the effects of anticoagulants, which are widely used to prevent blood clots but carry bleeding risks in emergency scenarios. The drug’s potential to provide a universal solution across various anticoagulants could mark a significant advancement in patient care and emergency medicine.

“This is our inaugural investment and represents a compelling next-generation, clinical-stage anticoagulant reversal opportunity,” said Sasha Bakhru, Managing Partner and CEO of 108 BioCapital. “Our fund is focused on supporting biotech and medtech companies addressing high-impact, unmet medical needs, with a strong emphasis on regulatory and commercial readiness.”

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108 BioCapital has completed its first close of $40 million, with funding sourced from a mix of family offices and prominent investors. Key backers include Mike Bingle of Silverlake Partners, Claypond, the family office of Ranjan Pai, Suresh Vazirani of the Erba-TransAsia Group, and Siddharth Parekh, founder of Paragon Partners. This diverse investor base underscores strong confidence in Pinwheel Therapeutics’ development pipeline and the market potential of Ciraparantag.

The investment will be used primarily to advance the ongoing Phase 2b clinical trials, designed to evaluate the safety, efficacy, and optimal dosing of Ciraparantag. By accelerating these trials, Pinwheel Therapeutics aims to bring the therapy closer to regulatory approval and eventual commercial availability, offering hospitals and clinicians a rapid-response tool for anticoagulation reversal.

With this funding, Pinwheel Therapeutics positions itself at the forefront of critical-care innovations, reflecting broader trends in biotechnology investment where high-impact, life-saving therapies attract significant private equity backing. The collaboration with 108 BioCapital also highlights the growing role of Indian-American investors in supporting global healthcare solutions from early-stage development to commercialization.

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