New Delhi, July 25: US-based cancer detection startup Navaux on Thursday announced receiving fresh funding, which it said, will play a "pivotal role" in entering the Indian market. The life science company secured an undisclosed investment from angel investor Karna D. Shinde.
This comes as India is rapidly emerging as a hub for health-tech innovations, a trend highlighted by Finance Minister Nirmala Sitharaman's recent announcement in the Union Budget 2024-25, which offers relief to cancer patients by exempting three crucial cancer treatment medicines from customs duty.
"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.
Navaux's innovative ACTIVH test, developed based on preclinical studies, can predict the onset of cancer up to 3-4 years in advance, which can help individuals make lifestyle changes, like quitting smoking and alcohol, to potentially prevent the development of cancer.
Further, ACTIVH is a critical tool for patients undergoing cancer treatments, providing real time insights into the efficacy of chemotherapy, radiation, or other therapies by monitoring Hepsin levels in the blood. A decrease in Hepsin levels indicates effective treatment, while an increase signals the need for alternative therapies.
"Early cancer detection significantly improves survival rates. Navaux's ACTIVH is a boon for patients and their families. Determining aggressive cancer development before symptoms arise will lead to longer survival and a better quality of life for patients," Shinde said. "Moreover, biomarkers like Hepsin offer the potential for future therapies that are more effective and produce fewer side effects," he added.
