Core Diagnostics Launches Operations in India
Core Diagnostics announced the launch of its operations in India, at a mini conference held today at The Oberoi in New Delhi. The conference, attended by over 150 top clinicians from around the country focused on a new generation of high-end diagnostic tests that help with disease stratification and therapy selection. Dr. Mahul Amin of Cedars Sinai Medical Center in Los Angeles, Dr. Ashok Seth of Fortis Escorts Heart Institute, and Dr. Mark Pegram of Stanford University School of Medicine were the keynote speakers who spoke from three different perspectives – of a Pathologist, a Cardiologist, and an Oncologist.
Core Diagnostics, co-founded by Zoya Brar, 23, and Arghya Basu, 25 recently merged with the Palo Alto, USA based OncoMDx, founded by serial entrepreneur Mohan Uttarwar. The newly formed company has secured Rs. 27 Crore financing from Artiman Ventures, based in Silicon Valley and Bangalore.
"Effective treatment for any disease begins with an accurate and timely diagnosis. While India has made tremendous progress in Healthcare over the past decade, we lag behind the Western world when it comes to diagnostics. Our aim at CORE is to bridge the diagnostic deficit," said Mohan Uttarwar, who will serve as the CEO of the global company.
High End diagnostics such as immunoassays, molecular and gene-expression tests play a very critical role in selecting the most effective clinical intervention. This is applicable in Cardiology, Oncology, Reproductive disorders, Endocrinology and several other clinical specialties. "These tests bring personal- ized medicine one step closer to reality and can help the pathologist provide the most actionable information to oncologists, cardiologists, and other specialists," said Ajit Singh, Ph.D., Palo Alto based part-ner at Artiman ventures, who also serves as the lead Director on the Board of Max Healthcare.
Ramesh Radhakrishnan, partner at Artiman who runs the Bangalore office, believes that India is fast becoming the platform for broad-based innovations, especially in Life Science and Healthcare. "We have been tracking the innovation gap in Clinical Diagnostics for several years now. It has been increasingly clear that upstream, i.e., the diagnostic part of the healthcare value chain needs to become as robust as the downstream, i.e., the therapeutic part."
Basu, Brar and Uttarwar believed in the same thesis. Artiman brought them together, worked with them to validate the thesis, and funded them to create Core Diagnostics. Building cross-disciplinary links – between entrepreneurs from diverse backgrounds – is a key attribute of the Artiman strategy of White Space Investments.
Core Diagnostics Private Limited
406, Udyog Vihar, Phase III, Gurgaon 122016
Phone: +91 124 6464099
Core Diagnostics, Inc
2458 Embarcadero Way, Palo Alto, CA
About Core Diagnostics (www.corediagnostics.in)
Core Diagnostics is a Clinical laboratory focused on Next Generation Diagnostics for disease stratification and therapy selection. Core Diagnostics is unique because of its richest menu of high-end tests, second opinion on every test from a global panel of pathologists, and shortest turnaround time. It also is the first lab in India to deploy Next Gen Sequencing in clinical applications as well as to use digital pathology for enabling concurrent global review of test results. The initial offerings of the laboratory are in Cardiology, Oncology, Reproductive Disorders, and Endocrinology, with other areas of specialty such as Infectious Disease, etc. on the mid-term product roadmap.
About Artiman Ventures (www.Artiman.com)
Artiman is an early stage venture capital fund based in Palo Alto and Bangalore. Artiman focuses on "White Space" Investments in companies that serve markets with large opportunities and no identifiable competitors. Artiman has recently made several key investments in India. Artiman portfolio companies based in India include Core Diagnostics (Clinical Diagnostics), Tonbo (Imaging Applications in Security, Defense, etc.), Cellworks (Pharma/Drug design), OncoStem Diagnostics (Oncology Diagnostics), and Guavus (high-end big-data analytics).
Zoya Brar, Core Diagnostics (email@example.com)
Ramesh Radhakrishnan, Artiman Ventures (firstname.lastname@example.org)