OncoStem Diagnostics, a Bengaluru-based oncology-focused startup, said that it had raised $6 million in a funding round led by venture capital firm Sequoia India. The firm said that it was focused on personalised cancer treatment planning through the development of innovative and robust tests that effectively predict the chance of recurrence in patients.
OncoStem said it would use the funds to deepen research and development, develop effective tests for oral, brain and colon cancer and automate these tests. The company plans to expand its presence in India and introduce the test in new markets in Asia as well as in Europe. Manjiri Bakre, founder and chief executive of, OncoStem said 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,” said Ms. Bakre, in a statement.
This week Sayre Therapeutics Pvt. Ltd, a super-specialty pharmaceutical company said it has raised $8 million across two rounds of funding from venture capital firms Accel Partners and Aarin Capital. The firm which has a portfolio of interventional oncology, immunology drugs and drug delivery devices said that it has also raised $1 million in venture-debt from InnoVen Capital.