OncoStem Diagnostics ( a Bengaluru-based oncology-focused start-up ) has raised $6 million from venture capital firm Sequoia Capital.
OncoStem was founded in 2011 by Manjiri Bakre, is focused on personalized cancer treatment planning through the development of tests that try to effectively predict the chance of cancer recurrence in patients.
OncoStem’s mission is to become the leading Oncology Diagnostics Company of the 21st century. OncoStem’s focus is on developing tests to identify patterns of recurrence in various cancers. While most cancer treatment is primarily geared toward preventing cancer recurrence, the knowledge of a patient’s risk of recurrence is critical in tailoring personalized therapeutic strategies.
OncoStem’s first focus has been the development of CanAssist-Breast which identifies risk of recurrence in patients with Hormone Receptor positive Breast Cancer. Similar tests in Oral, Lung, and Colorectal Cancer are under development.
OncoStem Diagnostics will use the funds to deepen its research and development efforts, develop effective tests for oral, brain and colon cancer, and automate these tests.
As per reported by Livemint, “There are no affordable tests in India to accurately predict the risk of cancer recurrence. We aim to develop innovative and cost-effective tests that will help predict and assess the risk of recurrence in cancer patients, thus providing doctors with an actionable blueprint for personalized treatments,” said Manjiri Bakre.
OncoStem Diagnostics raised first funding from California-based venture capital firm Artiman Ventures in 2011. Artiman invested $3 million in the company in multiple tranches.