[Funding alert] Early cancer-detection startup Epigeneres Biotech raises $ 6M in Series B round
Mumbai-based Epigeneres Biotech, the exclusive licensee in India of Singapore-based Tzar Labs, has raised $ 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.
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”
“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),” added Moez Daya.
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.”
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.
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.”
Edited by Anju Narayanan