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Biotechnology startup Mestastop Solutions has raised $500,000 in a pre-Series A funding round led by a consortium of 92 angel investors along with Malpani Ventures.
The funding round comes two years after it raised Rs 2 crore in an angel round led by IIM Ahmedabad’s CIIE with participation from IKP and angel investors.
What is the purpose of fundraising?
The funds will be used to generate proof of concept data with small molecules around the identified first-in-class targets and also help progress drug repurposing efforts to delay metastasis by identifying probable clinical candidates. New animal models and clinical studies will also be supported, along with strategic business development activities.
What does Mestastop do?
Founded by Arnab Roy Chowdhury and Debabani Roy Chowdhury, Mestastop is creating a cancer metastasis platform, that uses wet lab biology and predictive analytics to identify and distinguish unique properties of metastasis and leverage them for drug discovery and patient treatment.
Dr Arnab’s shared “Over the last three years, we have been involved in extensive R&D, which has created novel platforms. We are ready to leap forward and use these platforms for our discovery and diagnostics efforts. I thank all existing investors for supporting us and the incoming investors for sharing our vision and passion. ”
What do investors say about Mestastop?
Alok from 92 Angels said ”Mestastop is on a noble mission to defeat cancer, a dreaded disease that takes millions of lives every year. 92Angels, a group of investors whose specific goal is to support companies that make a better world, is privileged to be part of Mestastop's journey”
“We are pleased to back Arnab, Debabani and the team at Mestastop. The company's vision of developing novel platforms and predictive diagnostics to solve for cancer metastasis resonates well with our thesis at Malpani Ventures to back purpose-driven tech-first founders in healthcare” - said Dr Anirudh Malpani from Malpani Ventures.
The current landscape of the industry
According to a report, The global cost of cancer as a disease burden is poised to be around $25Tn by 2050. The spending on treating and research for curing cancer across would hit $400bn by 2030. Of this global drug discovery market size is poised to hit $150-180bn around that time.
Metastasis said that in cancer tackles a complex problem and addresses a potential problem that has plagued cancer cure pharmacos for years leading to a diminished return on R&D as well.