US-based cancer detection startup Navaux has secured new funding to enter the Indian market, receiving an undisclosed investment from angel investor Karna D. Shinde. The company specializes in early cancer detection technology, notably their ACTIVH test, which predicts cancer onset up to 3-4 years in advance based on preclinical studies.
The funding is seen as pivotal for Navaux to establish connections within India’s healthcare industry. This move aligns with India’s growing stature as a hub for health-tech innovations, highlighted by recent government initiatives aimed at easing cancer treatment costs.
“This investment will play a pivotal role in helping Navaux, a company specialising in early cancer detection technology, establish connections within the Indian healthcare industry as they prepare to introduce their cutting-edge solutions to the Indian market,” the company said in a statement.
Also Read: India Estimates 5 Fold Surge In Its Medical Device Industry To $50BN By 2030: DCGI
Also, Finance Minister Nirmala Sitharaman’s announcement in the Union Budget 2024-25, to exempt three crucial cancer treatment medicines from customs duty is likely to boost cancer related health-tech innovation in India.
ACTIVH monitors Hepsin levels in the blood, providing real-time insights into the effectiveness of cancer treatments like chemotherapy and radiation. Decreasing Hepsin levels indicate successful treatment, while increases may prompt alternative therapies.
Angel investor Karna D. Shinde emphasized the significance of early cancer detection in improving survival rates and enhancing patients’ quality of life. He also noted the potential of biomarkers like Hepsin for developing future therapies that are more effective and have fewer side effects.
Navaux aims to introduce its advanced solutions to empower individuals with proactive health management strategies, potentially mitigating cancer risks through lifestyle adjustments such as smoking cessation and alcohol moderation.
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