OncoStem Diagnostics raises 6 million dollar led by Sequoia India
New Delhi: OncoStem Diagnostics, a Bengaluru- based oncology-focused startup, has raised USD 6 million in a funding round led by Sequoia India.
The firm is focused on personalized cancer treatment planning through the development of innovative tests that effectively predict the chance of recurrence in patients.
OncoStem will use the funds to deepen its research and development efforts, develop effective tests for oral, brain and colon cancer and automate these tests, it said in a statement here.
The company plans to expand its presence in the country and introduce the tests in new markets in Asia as well as Europe, it added.
"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, providing doctors with an actionable blueprint for personalised treatments," said Manjiri Bakre, founder and chief executive officer, OncoStem Diagnostics, in the statement.
OncoStem's flagship product is 'CanAssist-Breast'. In addition to CanAssist-Breast, OncoStem plans to launch another breakthrough test for patients suffering from Triple-Negative Breast Cancer (TNBC), it said.