This funding further embellishes the Company’s already illustrious investor list, which features the likes of HCG, Torrent Pharma, Vijay Karnani (Ex-Goldman Sachs, India), Venkat Ramaswamy (of Edelweiss), and Sanjeev Khandelwal (of K-Labs).
Mumbai based Epigeneres Biotech, the exclusive licensee in India of Singapore-based Tzar Labs, has raised USD 6 million in a Series B funding round. Lead investors in this round include Kotak Investment Advisors, Moez Daya (of Satya Capital), and LetsVenture Angel Fund. Other investors include Ashish Kacholia, East River Advisors, One Decacorn, Nandita Advisors, and Chockalingam Valliappa, to name a few. This funding further embellishes the Company’s already illustrious investor list, which features the likes of 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 announced their early detection cancer test (co-developed with Tzar Labs, Singapore – a specialised molecular diagnostic company), with a pioneering breakthrough in RNA bio-markers technology which can even detect cancer in Stage Zero (i.e., before tumour formation). With initial approvals in place, the latest round of investment will go towards expanding its Lab facilities, scaling operations, and development of an AI platform to launch the service in India – a world first. And, continue bringing the best diagnostic technology to patients and providers.
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”
Moez Daya 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.” (Moez Daya is a founder and partner at Satya Capital, founder and ex CEO of Celtel International).”
Mr. Nimesh Kampani who led the round on LetsVenture said, “We believe that the Epigeneres Biotech offering will transform the way cancer care is delivered with real-time, comprehensive and swift insights, something never experienced before in India or the world. We see tremendous potential and are excited to back the Company in its accelerated growth.”
The Jain International Trade Organization (JITO), through its JITO Angel Network (JAN), also played an instrumental role in mobilizing significant investment from amongst its membership. Lead investor from JAN, Sujay Shah, MD of Mahati Industries, said, “We believe that, over time, this test will find a place as part of a preventive annual health check-up, assisting in early cancer detection. Cancer is an easily manageable disease if detected early. Unfortunately, it’s usually caught late, by which time it becomes very difficult to manage, and is seen as a terminal illness. We are delighted to see research like this originating from India.”
Ashish Tripathi, Founder & 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 commercialise the cancer test; first in India, and then at a global level.”
Anish Tripathi, Managing Director, Epigeneres said, “We are working very hard towards launching this service in India within the next few months. The Company is focussed on establishing and scaling operations so that we can service a larger number of people. We aim to change the trajectory of cancer into an early-stage, from a late-stage disease, which will tremendously help a great number of people. We are proud to pioneer this launch in the Indian market which will eventually be the engine for a global launch.”
Legal advisor Vandana Pai, Partner at Bharucha & Partners’s, said, “The Epigeneres management was pragmatic during negotiations, focused on creating value for all stakeholders, and a delight to work with. Thank you for the opportunity, Anish and Ashish”.
The cancer detection start-up’s three global firsts are:
1) Detect imminent cancer earlier than any currently available technology, with very high specificity (99.9%+). 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.
2) Provide the first prognostic for cancer. It is a common test for all types of cancers ; not only can it detect from a blood test that the person does not have cancer, it can also rule out cancer for the next year.
3) Can do an RNA mutation analysis for any organ in the body from a blood test: i.e., invasive organ biopsies to study mutations and gene expressions will no longer be required, and mutation readings will be provided from a simple blood test. It is also more accurate than liquid biopsies, and detects cancerous growth at a much earlier stage, when CTC detection in blood is almost impossible.
Source: Business World
