The new generation healthcare company Strand Life Sciences and Triesta Sciences, which is a unit of oncology care provider HealthCare Global (HCG) Enterprises, announced a partnership for genomics-based diagnostics for cancer on Thursday.
The partnership, to set up Strand-Triesta Centre for Cancer Genomics, primarily translates into patients of HCG, including those coming for preventive check-ups, being offered the option of genomics-based tumour profiling at a cost.
Addressing a press meet here, HCG chairman and CEO Ajaikumar said genomics have come to play a major role in personalised medicine. Genomic testing will help oncologists in clinical decisions and patients receive targeted individualised therapies, he said. A release said sequencing of tumour using NGS (next generation sequencing) technologies and analysis of patient’s DNA variations would help physicians go beyond ‘a one size fits all’ model of cancer therapy.
Strand Life Sciences chairman and CEO Vijay Chandru said the coming together of the three entities would help achieve a scale of adoption of genomic testing that enables affordability besides offering insights about cancer. Research on molecular profiles of patients was expected to establish new targets for development of targeted cancer drugs. A portfolio company of Biomark Capital Partners, a San Francisco-based global fund for health and life sciences, Strand has three clinical and research laboratories in Bangalore.
Noting that it raised $10 million a little over a year ago, he said Strand was in talks with investors for a $20-30 million funding, which it intended to use for expanding the operations. In the first round of funding around 11-years ago, the company received $3.5 million with which it created the basic informative platform.
On whether genomics-based testing is covered under health insurance schemes, Mr. Chandru said in the U.S. it had started picking up.
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