# OncoStem Diagnostics Private

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/oncostem-diagnostics-private

- Industry: Biotechnology
- Headquarters: Bangalore, India
- Website: www.oncostemdiagnostics.com
- Total disclosed funding: $7M
- Latest round: Series A (Sep 6, 2017)
- Investors on record: 2

## About

OncoStem Diagnostics Private Limited is a biotechnology company focused on developing innovative prognostic tests that assess tumor aggressiveness and predict cancer recurrence risks, primarily for breast cancer.OncoStem Diagnostics Pvt. Ltd. specializes in diagnostic solutions, particularly for breast cancer. Founded in 2011 in Bangalore, India, the company was established by Manjiri Bakre, who has experience in the healthcare sector. OncoStem has completed 2 funding deals, with the most recent being a Series A investment led by Sequoia Capital in September 2017, raising USD 6 mn. The company has not undergone significant strategic pivots but has maintained a focused approach on its core offerings.OncoStem Diagnostics Pvt. Ltd. specializes in the development of innovative prognostic tests aimed at assessing the aggressiveness of tumors, thereby identifying unique characteristics of cancer recurrence risk. Their flagship product, CanAssist Breast, utilizes a proprietary Artificial Intelligence-based statistical model to evaluate critical biomarkers in breast tumors and classify patients into "low-risk" or "high-risk" categories for cancer recurrence. This approach enables oncologists to formulate personalized treatment plans, potentially allowing low-risk patients to avoid chemotherapy. Since its inception, OncoStem has focused primarily on breast cancer solutions, with ongoing research aimed at expanding to other cancer types. The company serves over 300 oncologists across South Asia, particularly in India, and aims to expand into emerging markets.In 2023, OncoStem Diagnostics reported a revenue of USD 703,455.20 with an EBITDA of USD -217,746.20. The company’s revenue model revolves around its diagnostic services, especially through the distribution of CanAssist Breast, which is offered to healthcare providers, including hospitals and oncology clinics, under fee-for-service agreements.OncoStem is focused on expanding its product offerings and geographic reach. The company plans to introduce new diagnostic tests tailored for different cancer types in the coming years. Additionally, OncoStem aims to penetrate further into emerging markets, building on its existing presence in South Asia. The USD 6 mn raised from the Series A funding in September 2017 will support these initiatives, facilitating research and development for new products and aiding market expansion efforts.

## Funding rounds

- Series A, Sep 6, 2017, $6M — Hong Shan, Artiman Ventures
- Seed, Jul 1, 2011, $1M — Artiman Ventures

## Investors

- Artiman Ventures (https://capitalatlas.ai/funds/artiman-ventures) — Seed, Series A
- Hong Shan — Series A