OncoStem Diagnostics, an Oncology focused company that enables personalised cancer treatment has been recognised as the winner of the Aegis Graham Bell Award in the Innovative Diagnostics Category. The award is an initiative by Aegis School of Data Science to honour innovations in IT, Telecom and exponential technologies.
Aegis Graham Bell Award is a tribute to the father of telephony and great innovator, . , and has initiated this award to promote innovations and recognize the outstanding contributions by the innovators.
This award is supported by the Ministry of Electronics and Information Technology, Government of India; NITI Aayog (National Institution for Transforming India is a policy think tank of the Government of India); Skill India (campaign launched by Prime Minister of India, Narendra Modi, the campaign is under Ministry of Skill Development and Entrepreneurship); National Informatics Centre Services Incorporated (NICSI), a Government of India enterprise.
Commenting on the recognition, Dr Manjiri Bakre, CEO and Founder, OncoStem said, "We are honoured to be recognized as winners in the category of Innovative diagnostics. At OncoStem, innovation is not just an idea/concept, it's a process that we have followed at every stage of the product.
This award is a huge recognition of our exemplary teamwork and we hope this award will help us in our goal to reach every eligible breast cancer patient in India via our government's universal health scheme - Ayushman Bharat. More importantly, I really hope this award given to many start-ups like ours will help India achieve its goal to become "Aatmrbhar Bharat" as a nation.
OncoStem's CanAssist Breast is an innovative, cost-effective test that can help clinicians to plan tailor-made treatment for each breast cancer patient based on tumour biology.
The risk of cancer recurrence is dependent on tumour type, stage and the biology of each patient's tumour. 'CanAssist-Breast' determines the proteomic fingerprint of the tumour. This information is then used by OncoStem's proprietary machine learning-based algorithm that stratifies patients as 'low or high risk for cancer relapse.
Patients classified as '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. The use of CanAssist Breast thus allows doctors to devise treatment plans that are in tune with the prognosis, maintaining a balance between the benefits and side effects of chemotherapy.
OncoStem Diagnostics is a Bangalore based startup company that develops innovative multi-marker prognostic tests to enable personalized treatment of cancer patients.
Founded by Dr Manjiri Bakre in 2011, OncoStem's flagship product 'CanAssist Breast' has been in use in the Indian subcontinent for the past 3 years. OncoStem is currently working on similar tests for other subtypes of breast cancer and ovarian cancer. OncoStem has raised ~ US USD 9 million in funding from Sequoia Capital and Artiman Ventures.
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( With inputs from ANI )
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