Mumbai: Biotech company Epigeneres has raised USD 6 million in a Series B funding round with Kotak Investment Advisors, Moez Daya (of Satya Capital), and LetsVenture Angel Fund as the lead investors. Other investors include Ashish Kacholia, East River Advisors, One Decacorn, Nandita Advisors, and Chockalingam Valliappa to name a few.
The Series B round investors join the list featuring HCG, Torrent Pharma, Vijay Karnani (Ex-Goldman Sachs, India), Venkat Ramaswamy (of Edelweiss), and Sanjeev Khandelwal (of K-Labs). The Company has V Krishnan (Promoter, Justdial) and Shailesh Haribhakti (BOD Torrent Pharma) as board members.
In May 2021, Epigeneres Biotech had announced their early detection cancer test developed in collaboration with Singapore-based diagnostic company Tzar Labs. The pioneering breakthrough in RNA bio-markers technology can help in detecting cancer at Stage Zero before the tumor formation. With initial approvals in place, the company aims to use the latest round of investment for expanding its Lab facilities, scaling operations, and development of the world’s first AI platform to launch the service in India.
Talking about how the financing will be utilized, Ashish Tripathi, Founder and Chairman, Epigeneres said, “This latest round of financing will help us continue our upward trajectory in early detection of cancer. The investment will go toward expanding the R&D team, scaling operations, and development of new products, even as we continue bringing out the finest healthcare technologies and solutions. We have received very positive feedback from the market and with the help of our investors and the Government, we will soon begin to commercialize the cancer test; first in India, and then at a global level.”
Anish Tripathi, Managing Director, Epigeneres said that the company will be launching the service within the next few months in India with the capacity to serve a larger number of people. Added that the ultimate target through the innovation is to turn the trajectory of cancer into an early-stage, from a late-stage disease.
Speaking on the funding, Nitin Deshmukh of Kotak said, “The ability to detect cancer through a simple blood test at Stage Zero, can be a major breakthrough that can change the way cancer diagnosis is approached. We see this as an excellent opportunity to partner in the pioneering growth story of a home-grown Indian company, that is innovating diagnostic technologies in Oncology”
Commenting on the investment in biotech startup, Moez Daya, Founder and Partner, Satya Capital said, “I am proud and excited to be backing this transformational early-detection technology, which will be a dramatic enabler in cancer detection, treatment and in safer cancer drug development. I have a strong conviction that Epigeneres’ technology and research-backed approach is scalable, value driven, performance backed, and a remarkable investor opportunity.”
The early-cancer detection kit developed by Epigeneres in collaboration with Tzar labs can detect imminent cancer earlier than any currently available technology, with very high specificity of over 99.9 percent. It can detect the type of cancer, and which part of the body it is growing in, from a blood test prior to tumour formation. In addition, it can help in providing the prognosis for cancer by detecting from a blood test whether the person has cancer or has probability of developing it in the next year. The technology marks RNA mutation for any organ in the body from blood tests, which can help in detecting cancerous growth at a much earlier stage.Previous