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OncoStem Diagnostics, an oncology focused company that enables personalised cancer treatment, has been named as ‘Best Innovation- Cancer Risk Assessment’ by NASSCOM’s CoE’s (Centre of Excellence) Life Sciences and healthcare innovation forum (LHIF).
NASSCOM invited applications from eligible startups working in healthcare to apply for the LHIF Startup Awards 2019. A jury consisting of industry stalwarts and healthcare professionals selected six high-impact and tech-driven healthcare startups breaking new ground in the fields of healthcare, lifesciences, medical devices, pharma and insurance. Startups were selected based on their innovation quotient and impact. OncoStem’s test CanAssist Breast was awarded the “Best Innovation- Cancer Risk Assessment”.
The company is known for its innovative multi-marker prognostic tests to enable personalized treatment of cancer patients. It raised US $9 million in funding from Sequoia Capital and Artiman Ventures.
Its CanAssist Breast is a prognostic test for early-stage hormone receptor positive breast cancer patients. It makes customized treatment possible by analysing the patients tumor in depth and providing a patient specific report. CanAssist Breast categorizes patients based on the risk of cancer recurrence clearly as either ‘low or high’ with no grey area in between. This clear distinction of patients based on risk of cancer recurrence allows doctors to devise treatment plans that are in tune with the prognosis, maintaining a balance between the benefits and side effects. Patients who are at low risk of relapse can potentially avoid chemotherapy and its associated side-effects while patients who are at high risk of relapse would benefit from the addition of chemotherapy to their treatment regimen.
Speaking about the award, Dr Manjiri Bakre, CEO and founder, OncoStem Diagnostics said that our objective is to develop innovative tests that aid personalized cancer therapy and improve a patient’s quality of life. This recognition strengthens our commitment towards providing personalized treatments that are suited to a patient’s condition.
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