OncoStem Diagnostics, the Oncology-focused startup, has lacked $6 Million (almost Rs 38.5 Crore) in a funding round led by Sequoia India that witnessed contribution from Artiman Ventures, the current investor. This data was given by some of our trusted sources with a sole condition of being unnamed.
The firm, which is aimed on personalized cancer therapy planning via the development of trails that forecast the opportunity of reappearance in patients, will use the capital to develop effectual trails for brain, oral, and colon cancer, intensify its R&D attempts, and mechanize these tests, as per Manjiri Bakre, the CEO of the company.
OncoStem aims to extend its attendance in India and roll out the trial in new segments in Europe as well as Asia, Bakre claimed. “We need to extend marketing and sales in Asian nations. We have selected 6 countries. We also wish to organize a lab in Singapore and extend R&D there. We are also operating on colon, oral, and brain cancer. We need to mechanize the trail end to end. The price of our trial is 1/5th in comparison to the west,” she claimed. Principal of Sequoia Capital, Anjana Sasidharan, claimed, “OncoStem is bridging a critically required gap and assisting spare hundreds of patients suffering from cancer from harsh chemotherapy, the related toxic impacts and the prices. The pricing and technology can basically alter patient access to such progressive trails, which have been prohibitively costly in almost all the markets so far. In addition to this, the biomarkers found that via predictive analysis by OncoStem of cancer reappearance will assist pharma firms in designing new aimed drugs.”
Lead product of OncoStem, “CanAssist-Breast,” can possibly assist patients suffering from breast cancer prevent needless chemotherapy, as per the same sources mentioned above.
Apart from CanAssist-Breast, OncoStem aims to roll out one more trial for patients going from a “harder to cure” triple-negative breast cancer. While tumors of this segment are in general hard line in nature, not all people have a “far-above-the-ground” risk of reappearance and might not need multiple and severe rounds of chemotherapy to battle it.
