Eyestem, a Bengaluru-based cell therapy company, on Monday, said it has raised Rs 51 crore in a Series A round led by three pharma majors — Biological E (BE), Alkem, Natco and Anurag and Karan Bagaria, promoters of Kemwell Biopharma. Existing investors Endiya Partners and Kotak Private Equity also participated in this round, valuing Eyestem at $46.4 million (INR 371 Crore) post-money. Founded in 2016 by an experienced team of clinical research, regenerative medicine and ophthalmology experts, Eyestem developed an experimental treatment for dry AMD called Eyecyte-RPE, replaces damaged retinal pigment epithelium cells and is designed to restore sight for patients in the early stages of dry AMD or arrest loss of vision for those in later stages. The investment will enable Eyestem to progress a treatment for dry age-related macular degeneration (AMD) to the clinic.